Written Commentary
MORNING LIVESTOCK OUTLOOK
Packers aren’t actively trying to forward contract cattle. No premiums for forward contracts at this time are being offered. The futures are offering premiums as specs bear spreads and feedlots should be taking advantage of the spreads. For the week average price down $1.25 from previous week.
For the week, pork carcass gained about $3.00 over previous week. Going forward, Peso still strong should keep exports decent. July moving up to meet cash and cash dropping to meet futures. Spreaders continue to narrow summer to October or December contracts. July is the only realist contract as spreaders dominate August Lean Hogs on out.
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