Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE COMPLEX
The pressure on beef prices is coming mostly from chucks, rounds, briskets, plates, and flanks, the primal cuts that are going mostly to ground beef. With beef imports increasing, it’s very likely these cuts will trend lower.
LEAN HOG COMPLEX
Contract feedlots and packer owned feedlots need cattle to fill previously contracted beef orders. With the low placements demand for feeders should remain strong.
China is downsizing their hog herd but their poultry numbers for broilers are increasing.
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