Written Commentary
MORNING LIVESTOCK OUTLOOK
Last week beef export net sales were once again light. 14,300 MT is about half of what exports need to be. South Korea and Japan top buyers but what they bought were nominal amounts. China was actually lower than normal.
High corn prices are limiting the demand for feeder cattle. Midwest grain/cattle feeders are selling corn versus placing feeder cattle.
Pork daily sales are light. Traders will be waiting this week to see if exports are as strong this week as last week. Last week net sales of 49,1000 MT were strong with China buying more than they have been over the past several months.
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