Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Rib and loin primals are moving higher like it was the end of the year holidays. It could be for labor day which is usually a ground beef time or it could be buyers stocking up and meeting contracts for the late year holidays. The biggest demand for choice rib primals are the full sections lip-on, bone-in and the heavy bone less sections the sections usually bought for the restaurant trade.
PORK COMPLEX
During September with spreaders buying hogs and selling cattle, it will move October lean hogs closer to the CME Lean Hog Index. It will help that analysts are also expecting consumers to increase pork consumption.
Week after week Mexico has been buying less pork. Canada took 2000 mt after being absent the previous 2 weeks.
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