Written Commentary
MORNING LIVESTOCK OUTLOOK
Extreme heat is causing Texas, New Mexico and parts of Oklahoma to move cattle when they can find any buyer. Ranches in some areas have been without water on their ranches for one to two months and now can’t truck water.
Very dismal beef exports. Beef export net sales at 9,200 MT are dropping week after week. This week Japan was the largest taker.
Hog producers that sell on the direct market benefit from the low slaughter numbers. The low slaughter is supportive for lean hog futures. But how long will packers continue to work in the red?
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