Written Commentary
LIVESTOCK AM OUTLOOK
Beef net export sales were worse than pitiful at 4,200 metric tons.
Cattle slaughter is back to levels of pre-COVID. Depending how many cattle are slaughtered on Saturday, the way slaughter is going the first 3 days of this week, packers could push slaughter over last week’s kill of 676,000.
The CME Pork Index has been narrowing to CME Lean Hog Index. It is still positive for the packer at $12.46, but if it keeps narrowing, the way packers already are controlling and keeping inventory to what they need, if the spread continues to narrow, packers will continue to lower cash hog prices.
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