Written Commentary
MORNING LIVESTOCK OUTLOOK
Feeder Cattle futures will level off going into the Cattle on Feed report – especially for feeders November 2022 into 2023.
Very dismal beef exports last week. Beef export net sales at 9,200 MT are dropping week after week Beef exports are competing with Brazil and maybe more importantly the lack of Choice beef the U.S. has to sell.
Pork net export sales dropped last week down to 18,300 mt compared to the previous week at 31,200mt and the week before it 32,300 mt. Mexico was the largest buyer with 10,100 mt followed by Japan taking 3,400mt. China took 1,600mt.
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