Written Commentary
LIVESTOCK AM OUTLOOK
Beef is getting dumped onto the daily market. Choice Rib sections are moving at higher money, but middle meats are pulling prices down. In other words, between Select beef and Choice middle meat, the market has too much cheaper cuts competing and they are trying to move as much Select as possible that also has been weighing on the price of middle cuts of Choice.
Friday, Lean Hog futures shrugged off negative export news of week ending June 8th. Traders looking ahead at fewer hogs.
Historic floods in Europe are destroying towns, devastating cities to rural farm ground. At this time it is not known how much damage has been done to farm and livestock areas but is expected to be major. Severe flooding from England into eastern Europe, with hectares of agricultural areas under water. The EU is a global pork exporter and wheat exporter.
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