Written Commentary
MORNING LIVESTOCK OUTLOOK
Market moved up on February and April because of bear spreading. Fundamentalist might say it is anticipation there will be fewer cattle and there likely will be but when you look at the deplorable exports sold into 2021 with continual cancellations or reductions, along with increasing competition from Brazil, Australia and New Zealand and likely more cattle in those countries, call the market what the trade is doing.
Little change on the pork cutout Thursday on fairly light volume. 2020 year to date hog slaughter is close to 1% above 2019. Packers seem to have worked out problems when employees are sick with extra employees trained to work several stations in the plant.
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