Written Commentary
LIVESTOCK AM OUTLOOK
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Next week with Labor Day on September 6th, packers will be buying for the short Labor Day week and it is also the first week of the month. The first week of the month packers usually start out pulling in their contracted cattle. In other words, packers could back off on prices next week. Since they want the heavier Choice cattle, slowing slaughter this week and keeping cattle on feed a week longer may be part of their plans.
Traders will be waiting for exports on Thursday and until then, look for Lean Hogs to bounce as they have over the past two weeks. Traders want to see Mexico a heavy buyer and many traders expecting strength at some time from China.
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