Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Packers aren’t increasing cash bids. Thursday packers were bidding $235.00 and dressed at $370.00. Packers know the amount of beef needed and going into February a normally slow month for beef sales, expect packers to keep slaughter down and to be slow to bid on cash cattle.
LEAN HOG COMPLEX
Very good exports last week. China bought pork and likely due to buying pork for the Holiday taking place now. It isn’t unusual to see China buying for a couple weeks either To replenish storage or fresh pork as pork demand surges during the holiday. Mexico also increased buying last week with the strong peso and the cheap US Dollar.
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