Written Commentary
MORNING LIVESTOCK OUTLOOK
Lean hogs closed lower Monday. The pork carcass has been trading sideways and packers don’t seem to have a hard time finding enough hogs. Slaughter is slowly creeping up and giving packers a better outlook for procuring hogs.
With packers filling contracted beef orders first, a small daily beef movement has indicated in the past that packers need beef to fill contracted beef orders first and have less available for daily beef sales. It is often an indicator beef prices are going up and often an indicator cash cattle are steady to firmer.
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