Written Commentary
MORNING LIVESTOCK OUTLOOK
The Cattle on Feed report didn’t do much for Live Cattle trading Monday.
This week cash cattle markets steady to possible a bit higher. Cattle bought this week will be for a short pre-Labor Day kill next week and beef to fill needs for post- holiday buying. But exporters could increase buying. Exports are definitely the extra power behind the higher beef market and orders could begin increase in September for beginning the global holiday contracting deliveries.
Hog weights are beginning to increase and kill is slowly improving. Now, the pork market needs to see stronger exports if prices are to move back to where august went off the board at $121.72.
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