Written Commentary
MORNING LIVESTOCK OUTLOOK
Beef is moving in the US and according to the US Meat Export Federation for the first 5 months, January through May 2021, export sales are up 17% on beef and up 15% when combining beef and variety meats. South Korea is now the largest buyer of beef and combine beef and variety meats Japan is the best buyer although they are down 7% in beef and 2% combined meats from same time a year ago.
July has moved up to converge with CME Index. Packers are seeing numbers drop on slaughter and weights are down, but they aren’t pushing to compete for hogs available on the open market.
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