Written Commentary
MORNING LIVESTOCK OUTLOOK
There has been an increase in Live Cattle trading volume. Last Friday June Live Cattle volume was 36,110 contracts, Monday there were 44,771 contracts traded, Tuesday 39,243 contracts and so far on Wednesday GLOBEX volume was 41,111 contracts.
Beef net sale exports were 28,400 MT. A marketing year high and slightly better than were the average needs to be week after week but the increase comes after two weeks of below average sales at 14,600 MT last week and 11,400 MT the week before.
Pork carcass prices continue its steady slow move down. The 5 day average carcass prices is 103.01. A week ago it was 105.01. Wednesday loins broke below $100 to settle the day at 98.99 and hams were off 2.75 at 83.39.
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