Uptrend For Livestock Prices
LIVESTOCK AM OUTLOOK
Cattle remain heavy with cattle in the Midwest up to 1675 pounds. Feedlots are keeping cattle on feed rather than replacing with feeders.
Good to see Japan such a strong buyer of beef. Japan has been known to be one of the best buyers of heavy over fed cattle. With a strong Yen to the US Dollar there is an incentive for Japan to buy US beef.
Spec traders gave hog producers a delayed Christmas present over the past few days. The gift was when February 2021 Lean Hogs traded at $70.00 plus with current cash formula hogs averaging below $60 and the CME Lean Hog Index at $59.86.
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