Written Commentary
MORNING LIVESTOCK OUTLOOK
The Pork carcass cutout continues to move lower but at least pork loins have begun to work slowly higher. The Hogs and Pigs report didn’t help cash or futures markets.
Packers will buy cash cattle this week for the first full week of the new year for the week beginning January 9th. Packers have a big advantage knowing how much beef or pork is needed for delivery with majority of beef and pork sold on contract and then filling in buying from showlist cattle or hogs for beef or pork for the daily market.
Feeders were down as traders narrow differences between January and March, as well as April and May. With live cattle lower, selling feeders was the easiest path.
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