Written Commentary
LIVESTOCK AM OUTLOOK
Beef export net sales were bad, but other than the first part of the year, beef exports haven’t been that good and besides, Thursday Live Cattle didn’t open weak. Until Live Cattle and Lean hogs are trading in a spot month, traders simply have to accept wild volatile moves.
For the most part, hogs held the price drop fairly well. Hogs dropped to the 20 day moving averages and found support. Slaughter is down and hogs aren’t heavy. Thursday’s slaughter at 479,000 and current weights show packers don’t have extra hogs. Export net sales were bad. Mexico exports were low last week.
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