Written Commentary
LIVESTOCK AM OUTLOOK
Fundamentally, for the time being packers have enough cattle and with a smaller kill week next week the reason they backed off highs of Wednesday. Cash this week is a $1.00 lower than last week. Next week packers also have their own and contracted cattle to pull up. Like last week and this week, the grade of the steer or heifer is going to determine the highs and lows of the market.
Pork exports were decent Thursday. They need to maintain current levels. Peso is strong against the Dollar should help. Need to see increase in Japan, but Japan is also buying pork from EU and Brazil.
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