Written Commentary
LIVESTOCK AM OUTLOOK
Beef exports are poor. But, they may be down because the US needs the beef and doesn’t want to export it. After all, other countries are holding onto their beef and keeping it off the export market. Beef imports to the US are down 10% compared to a year ago. Somehow the US will need to procure low grading beef and likely will keep beef off the export market.
A year ago, packers were coming out of the pandemic slowdown. Slaughter was down and it was expected. But now, slaughter is even below last year. This year, slaughter is off 24,000 hogs compared to a year ago.
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