Written Commentary
LIVESTOCK AM OUTLOOK
Beef exports were below average what is needed on weekly net sales. Japan picked up and South Korea buying but about half of what they were buying.
Traders waiting to see if JBS increases the Saturday kill in Grand Island to make up for Monday’s kill at Garden City. With increasing beef loads moved so far this week, suggesting packers have more beef than is needed to fill contracts, it is possible cattle not killed through this week, will be moved into next week’s kill.
Pork net sales at 25,300 MT are what sales need to average week after week. Mexico largest buyer but they are behind at least 5000 MT. Dominican Republic is increasing purchases with liquidation because of ASF and aid from pork producing western hemisphere countries, US, Brazil and Canada. China bought the normal offal. Likely done with any big buying after last week’s purchase for October holiday.
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