Written Commentary
LIVESTOCK AM OUTLOOK
Cattle weights are moving down and high cost of feed saw feedlots taking cash prices $1 to mostly $2.00 lower this week. Corn was down on Wednesday, so Feeder Cattle moved up.
Strong net sales of pork at 42, 200MT were very good. Mexico the biggest buyer took 17,100MT followed by China at 16,600MT and then Japan dropping to 3,000MT. China’s purchase pushed sales over the top for last week and it was about the same large purchase China made during January. China usually takes a large shipment in January and then in February to restock coolers after the Lunar Holiday. But with China having large investors in Ukraine pork production and the packing industry, it could be possible China will increase purchases of US pork.
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