Trade Volume Quiet Year End
MORNING LIVESTOCK OUTLOOK
Trade volume the last trade day of the year was quiet. December 2022 Live Cattle went off the board down $3.67 at $154.82. After 2 slow weeks packers have inventory with contracted and their own cattle along with showlist cattle held off the market in 2022 intentionally to be sold in 2023 that also should bring bigger weights back to the market.
Net export sale were good. For 2023 Both Mexico and China were good buyers. China likely buying for Chinese New Years beginning January 24th. Packers have improving margins as pork going up against hogs. The wider the spread gets, should mean packers want to push hogs into the kill.
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