Written Commentary
LIVESTOCK AM OUTLOOK
Normally, beef declines in January and with global concerns about inflation and the winter increases with COVID in 2022, it is hard to see anything even close to steady but more downside for beef.
A slow trading day for Live Cattle on Wednesday. Spreaders continue to bear spread ahead of Thursday’s Cattle on Feed Report.
Pork net sales of 31,100 were good with Mexico taking the bulk with 22,700 metric tons. China like last week ended up with a reduction of 700 metric tons.
As of the close Wednesday, February Lean Hogs are $10.33 over the CME Lean Hog Index. Trade volume is light and traders buying hogs anticipating a bullish Hogs and Pigs report.
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