Written Commentary
MORNING LIVESTOCK OUTLOOK
Beef exports did well in January and traders are waiting to see if exports remain strong or like a year ago slow down going forward. Trade volume on Tuesday was light. After making contract highs on Monday, Tuesday appears to be simple profit taking on slightly overbought futures.
Tuesday the 5 day pork carcass was 79.94 with all primal cuts Tuesday afternoon down on a light slaughter of 479,000. Packers don’t want extra hogs. Monday slaughter was revised down 7000 head.
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