Written Commentary
Livestock AM Outlook
There is global expansion in livestock. Brazil is buying US grains because they oversold their 2020 crops and now need feed for increasing cattle going into feedlots and increasing numbers of hogs, chickens and dairy.
Hams up 11.83 early Wednesday and loins down 3.27 with bellies off 6.66 and butts down 3.36 is not positive for the cutout or lean hogs it is showing Mexico is likely the buyer of hams but other primal cuts and exporting carcasses are declining especially to China.
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