China Buying Beef From Brazil
LIVESTOCK AM OUTLOOK
Beef net sales were 9,700MT. Sales of this size do not help support the beef market. Biggest buyer was Japan taking 2,600MT. China bought 1,100MT. China has coolers filled and don’t expect to see buying from them like 2021 and they are back to buying beef from Brazil.
Thursday the pork carcass price on daily sales was up 10.05 and the higher pork prices brought Lean Hog futures off the lows of earlier in the morning. With a three day weekend coming up, concern hogs are backing up, and with April, the most actively traded contract, down from Monday’s over $3.50 , traders took profits.
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