Need Strong Exports in Hogs
LIVESTOCK AM OUTLOOK
Friday packers pushed all regions up to $113.00 to buy cattle to finish out last week and procure cattle ahead of storm in upper Midwest. In the Midwest packers are still discounting big cattle and in the Southwest packers are buying cattle regardless of being heifers or steers or Choice and Select at the same price.
Next week begins the Chinese New Year, the biggest holiday of the year. As usually this year China moved pork from storage and over the past 4 weeks has re-owned with purchases from the US, and the EU hog producing countries. Going forward, time will tell if they continue to buy US pork exports or will China have enough of their on fresh pork along with pork from Brazil and the EU when new trade agreements were made during the tariff conflict with the US.
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