Written Commentary
Livestock AM Outlook
Packers and feedlots are back to times before COVID 19 and pricing cattle late in the week. So far this week there have been a few scattered cash cattle sales at $108.00 with a few at $108.50 and dressed at $169.00. Feedlots are holding for $109.00 to $110 and $170.00 to $171.00 dressed.
Hams that have been the reason pork cutout has gained as of Thursday are about $5.00 lower than they closed a week ago. Pork movement on the daily cutout has been moderate. How packers are selling and have forward contracted it is the big secret. Record exports to China from the US in 2020 and record exports from Brazil need to continue to keep momentum.
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