Written Commentary
Livestock AM Outlook
The ham market on morning pork cutout jumped $19.39 and was off by the afternoon but remained strong up 12.41. Somebody has the ham market cornered. Buyers that need hams must pay the going price whether it sticks by the afternoon or not. Loins, bellies Picnics, Butts and ribs all lower by the afternoon. Loins are now below hams
US Dollar is cheap and look for continued export strength from Mexico. If Mexico backs off buying US pork, hogs could be in for a lot of problems. Mexico is the buyer that the US pork industry must depend upon for constant and continued buying.
Feeder Cattle have settled back off highs of last week possibly due to rally in corn. Demand will increase as more Feeders begin to show from mountain and high plains cattle. Feedlots in Midwest need Feeder Cattle.
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