Written Commentary
MORNING LIVESTOCK OUTLOOK
Beef continues to move higher. Spread between Choice and Select is widening. Daily beef movement is light showing packers are filling contracts first and sell beef on daily market at their price. Beef is a seller’s market. Cattle are current. Spring and summer, especially this year, are when grilling out increases. Compared to world prices, US cattle are cheap.
Pork keeps creeping higher and loins are finally a part of it. With loins moving higher it is a positive indicator. Spreaders are a big reason hogs have fallen of their highs.
The US Dollar is weak, and the Peso, Australian Dollar, Canadian Dollar and Yen should keep exports strong.
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