Traders Waiting For Export Sales Data
MORNING LIVESTOCK OUTLOOK
The big premiums packers paid in the Midwest during June and the first two weeks of July worked to entice feedlots to keep cattle on feed longer. Packers will continue to keep the spread between southwestern cattle and midwestern cattle wide but likely won’t see the extreme wide spreads in the Midwest.
Traders will be waiting for exports on Thursday morning. Last week net pork sales were 20,600 MT and traders on Thursday will want to see at least 20,000 MT or more.
Trade volume was light Tuesday. At current prices for hogs October on out, hedgers aren’t selling with big price of August compared to big discounts on October into 2023.
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