Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
PORK COMPLEX
Pork prices continue to gain. The cutout strength is primarily from hams and bellies. Weights are staying the same as last week and just three pounds above last year at this time. Packers are profits up but on light daily movement as packers fill contract orders first. Traders are buying lean hogs against live cattle.
Last week cash pork was higher with all primal sections higher. The 5-day average carcass price gained 5.42.
CATTLE COMPLEX
Compared to last week, very uneven price trends this week on calves and yearlings with many sales in the central and northern plains on a bi-monthly summer schedule. Calves sold mostly 5.00 lower to 5.00 higher with big yearling feeders mostly over 800 lbs selling in a wide price range as well from steady to as much as 10.00 higher to as much as 10.00 lower.
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