Written Commentary
LIVESTOCK AM OUTLOOK
Live Cattle futures trade volume was light to moderate Monday. Boxed beef sales were light. Traders need proof futures and cash will continue higher. Even though the US exports little beef to Europe and Eastern Europe, traders don’t know what might happen if Russia invades Ukraine. Until something is known, look for livestock to bounce up and down.
For week ending February 13, 2021 hog slaughter was down year to date 4.3%. Last week, the year to date hog slaughter was down 10.0%.
The Japanese Yen is near recent lows and looks like it could drop some more. The Yen dropping isn’t positive for hog exports. At least the Mexican Peso is strong and it should keep Mexico a strong buyer.
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