Written Commentary
MORNING LIVESTOCK OUTLOOK
Beef net sales were poor as Japan biggest taker at 4,700MT. A week ago low at 17,400 metric tons and week before at 17,700 MT. Exports for beef are dropping Thursday Live Cattle futures were down. Traders are expecting more cattle over the next 2 and half months based on past placements from the last four Cattle on Feed reports.
Last week the Mexican peso made a low. Since exports are a week behind, Friday morning, pork exports could be disappointing. Last week net exports were 27,600mt Mexico largest buyer at 14,7000mt followed by China at 3,800mt and Japan at 3,700mt.
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