Written Commentary
LIVESTOCK MORNING OUTLOOK
Slaughter is down for the week, but it won’t take long to catch up. The cash cattle market has been moving sideways. A couple packers paid up to $122.50 for high Choice cattle this week but like the past few weeks, they aren’t chasing cattle for the kill. Packers came out early in the week, started buying cattle and will buy a few more through the remainder of the week to finish out next week’s kill.
If needed, JBS can push production in South America to meet any immediate beef orders.
Thursday kill was only 470,000 head and the pork carcass movement on the morning sales was extremely light with just 126 loads of pork and 26 loads of trimmings.
If light kill remains, hogs could be much more bullish. It is possible. Now lower numbers likely because last April 2020 through June 2020 when hogs were being euthanized and sows not bred. A year ago, the hog industry was in a steep downward panic.
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