Written Commentary
MORNING LIVESTOCK OUTLOOK
Thursday morning beef exports were one of the best weekly exports in 2020. Boxed beef is going up day after day with days when the most expensive cut is up more than $30 or $40 in two days. Packers are paying in Texas the same price for select cattle as they are for choice and Southwest cattle are higher priced than Midwest cattle. It is hard to find bearish news.
As African Swine Fever swept through China wiping out subsistent family hogs and small to mid-size producers, Chinese hog conglomerates with financing from the Government and private Chinese and European investors were already starting to build and increase production.
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