Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
A rumor that hit the market Tuesday, and there were more reports on Friday about a plant closure. As reported over the past few months, it should be expected to have packer(s) close plants.
President Trump announced that ice raids would not be on packing houses and hospitality companies.
PORK COMPLEX
For the week cash pork was higher with all primal sections higher. The 5 day average carcass price gained 5.42. Bellies gained 14.55. Hams continue to gain and were 4.67 and have broken the $100.00 barrier. Ribs, picnics and butts were higher and likely the strength for Father’s Day. Movement on the daily market has been light indicating packers need pork for contracts. Slaughter is starting to increase.
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