Written Commentary
MORNING LIVESTOCK OUTLOOK
Beef net export sales at 23,000 metric tons were down 17 percent from last week, but sales at 23,000 are decent sales. Also China was largest buyer with 7100 metric tons. Charts showed on Wednesday there was not any technical damage to Live Cattle charts and the move higher is still intact. Trade volume was light.
Important to commodities – Shanghai is a port city and it is the World’s largest container shipping port. Because the city is currently on lockdown, it could cause a container shipping back log of goods entering the city and containers leaving the port.
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