Written Commentary
MORNING LIVESTOCK OUTLOOK
Beef net sale exports were 28,400 MT, a marketing year high and slightly better than what average net export sales needs to be week after week. But the increase comes after two weeks of much below average sales at 14,600 MT last week and 11,400 MT the week before. China didn’t pick anything last week. South Korea took a good amount at 12,000 MT followed by Japan at 7,200 MT.
Traders realize packers are now adjusting slaughter levels to the point where contracted orders are filled and extra pork is vulnerable. Traders are also disappointed China now takes very little US pork.
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