Written Commentary
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Livestock Futures Outlook
Both cash cattle and beef markets have been improving. At least for now, cattle and beef markets impressive. Futures are back to levels when cattle broke late February.
Steer and heifer weights have been steadily dropping over the past month. Average steer and carcass weights for week ending August 11th were down 5 pounds from previous week. They are 25 pounds over same time a year ago. They are 10 pounds less than a month ago compared to same period now.
Thursday both loins and hams higher putting cutout up $2.00. CME Pork Index higher for the week. For hog producers, higher pork doesn’t mean higher prices. Hog supplies are plentiful for now. Packers don’t seem willing to share profits.
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