Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Volume Thursday was light to moderate. Speculative traders are uncertain and have been liquidating.
High energy prices will bite into what consumers will spend.
A strike by JBS at this time when slaughter is so low will also increase beef prices. It is likely beef buyers have been increasing contracting beef ahead of it, but it will also limit the amount of beef available on the daily market.
LEAN HOG COMPLEX
If the strike in Greeley, CO takes place, hog packers might push up kill to take advantage of cheap pork and helping to keep shelf space fuller with pork and the lighter supply of beef.
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