Cattle on Feed Report Later Today
MORNING LIVESTOCK OUTLOOK
The Cattle on Feed Report is Friday afternoon and the very slow trade volume on Wednesday means hedgers, either on the buy or sell side, are sitting on hedges or waiting and spec traders are waiting for the report. There was a little bull spreading, but that was about it.
Slaughter on Thursday down to 428,000. It is no wonder pork and hog prices have rallied but on the other hand, packer’s costs are eating into profits. The estimated current packer’s losses don’t take into effect the high costs of operating a plant.
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