Written Commentary
LIVESTOCK AM OUTLOOK
Lots of gyration during the week, but barely any change. Futures were down for the week. Packers want cattle and paid more last week. If a feedlot has high grading cattle, packers will pay higher for them, but they are discounting lower grade cattle but there were a few packers in the Midwest that wanted heavier prime/choice cattle will to pay what the feedlot wanted.
Lean Hogs closed off the extreme highs made on Thursday but still showed solid strength from a week ago. Cash negotiated hog prices moving up to near prices of formula and contracted hogs. Packers taking more negotiated hogs and they need them. Weights have been slowly moving down and likely to move lower.
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