Price Movement Depends on Exports
MORNING LIVESTOCK OUTLOOK
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Traders are rolling out of October to December and into 2022 Live Cattle as well as outright selling futures. October settled at $123.75 , down $1.05 on Tuesday, and down to the lows of the first week of June.
Hog price movement will depend on exports. Last week the 33,500 net sale exports were good. Mexico is supporting the pork exports but need to see pick up from Japan. China may buy at some time but with increasing hog numbers in China as well as Brazil, the EU and Russia don’t expect long term big buying if China decides to re-stock their coolers at some point with US pork.
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