Written Commentary
MORNING LIVESTOCK OUTLOOK
On all indications there are going to be fewer cattle in the months to come. Many analysts feel that the biggest slaughter is peaking. Slaughter for last week was 651,000 head down 18,000 head from the previous week. The market is acting like the peak in cattle numbers are over and moving forward kill should drop into 2023.
Could pork be topping? On early sales on Friday the 5 day pork carcass price was $126.70 compared to last Friday’s final price at $127.50. Not a big change but a possible indicator pork prices may be slowly turning down. Maybe a better indicator was the drop in loin prices from Thursday to Friday, down $4.05. Kids are going back to school mid to late August and with inflation a major concern for many parents, the costs and fees for school can be a substantial expense.
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