Outside Markets Add Pressure to Meats
MORNING LIVESTOCK OUTLOOK
Packers didn’t need many cattle from the showlist last week and with heavier cattle they didn’t have to pay the higher premiums for Midwest cattle. Packers are telling feedlots they will buy cattle that meet their needs or keep them on feed. The fire in Grand Island, Ne didn’t hurt slaughter last week with a large 660,000 kill.
As China builds it’s hog herd, US exports to China are not going to increase. Along with their own growth China has trade agreements with the combined EU countries, Brazil, Russia, Viet Nam and Ukraine that were increased during the tariffs in 2019 and early 2020.
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