Written Commentary
MORNING LIVESTOCK OUTLOOK
Besides June Live Cattle, from August on out, there was very little change from last week. Next Friday there is the Cattle on Feed Report and likely by the end of next week with futures already looking for fewer cattle into end of 2022 into 2023, don’t expect much change especially with a 4 day trading week.
There are good reasons hogs are higher, but it all boils down to kill is far too low. Until hog numbers get consistently above 480,000 average on daily kill, can’t see hogs dropping too much except that the low kill is hurting packer’s profit margins and they could back off. Maybe start to import pork to the us from Brazil. What would really hurt to see Mexico moving to other countries for pork.
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