Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Choice boxed beef ended the day unchanged on light movement. There are still 2 weeks until Labor Day. Beef prices will depend what buyers may or may not need for Labor Day. It is likely after Labor Day to see a down turn in beef prices.
President Trump dropping the tariff on imported beef and the USDA allowing the opening of the Mexican/US border for cattle trumped the friendly Cattle on Feed report with 11% fewer placements.
LEAN HOG COMPLEX
As hog slaughter has been increasing and with beef prices moving down ,cash hogs and pork have been moving lower.
August and September are normally slow for pork sales. But October is national pork month with retailers offering pork sales. From mid-September into mid-October pork prices are likely to move up.
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