Written Commentary
MORNING LIVESTOCK OUTLOOK
Hogs are getting heavier and hog slaughter is increasing at a time when pork is going down faster than the price of hogs. These factors are going to keep packers from paying higher for hogs. Top it off with pork exports down for the year and with the strong U.S. dollar unlikely to increase, it will be difficult to retain current lean hog future prices.
The cattle market is having its own problems. As beef prices drop, the industry has to deal with the amount of lower grading cattle, Select and low grading beef selling in larger amounts and cheaper. Consumers are price shopping, buying protein to fit their food budget.
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