Written Commentary
MORNING LIVESTOCK OUTLOOK
Since Cattle on Feed Report close to estimates, likely little effect to trade. The negativity and concern about recession, high beef prices, and far too many low grading cattle keeping a lid on beef prices will be a concern to traders.
Pork export sales were good but unlike a week ago China was a light buyer. As was expected China likely bought a week ago to replace pork it removed from storage and put on sale ahead of the golden week and peoples national day beginning October 1st. Last week Mexico was the largest buyer with 25,500 mt followed by Canada taking 2,300mt. China bought 2,200mt.
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