Written Commentary
MORNING LIVESTOCK OUTLOOK
Too many light cattle grading Select and consumers buying cheaper cuts like ground beef are keeping a lid on Choice cattle. When close to 30% of beef cuts moved are Select cuts and more than 50% of the total beef moved are Select cuts, trimmings and ground beef it shows an unhealthy market for Choice demand. It is difficult for beef to rally when consumers want cheaper beef products.
Pork net sale exports dropped last week at 16,700 mt compared to previous week at 31,900mt. Mexico backing down a week should not be a concern at this time, but…Changes in pork exports could be looming. The Mexican peso has been strong along with the us dollar.
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