Written Commentary
LIVESTOCK AM OUTLOOK
The Hogs and Pigs report is in line with estimates. There will be fewer hogs so off the numbers of the report, it should be positive. Farrowings into the end of the year should be friendly.
With the recent drop in hogs futures and the steep discount July and August have to the current cash, lean hogs should be higher Friday.
Knocking boxed beef prices. So far, Choice beef on the cutout is down around $16.00 through Thursday. Primal Rib and loin sections falling hard.
If more Choice cattle don’t begin to show up and they won’t during the warm weather and because of high feed costs, look for packers to pay premiums even above recent premiums for cattle that are grading high.
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