Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE COMPLEX
The big load movement Monday shows increasing beef imports is working to lower prices. Sellers are dumping trimmings. It is the biggest morning movement of trimmings sold in in years. With increasing beef imports that are mostly lean trimmings, ground beef in stores should get cheaper and fast food restaurants should lower prices.
300,000 metric tons of beef are expected to be imported to the US over the next 90 days tariff free.
LEAN HOG COMPLEX
As hog slaughter has been increasing and with beef prices moving down ,cash hogs and pork have been moving lower.
August and September are normally slow for pork sales. But October is national pork month with retailers offering pork sales. During September pork prices could move up especially with it below the hog index now.
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