Written Commentary
LIVE CATTLE
The Fed Cattle Exchange on Tuesday had 1,447 head for sale. 228 cattle sold for $105, a lot of Texas heifers weighing 1255 for delivery 1 to 17 days. They were only on feed 132 days and went on feed at 831 pounds.
There is a good reason US exports are slow and why US beef and pork prices are dropping as slaughter increases. Brazil. According to the Brazilian Animal Protein Association (ABPA) for May, Brazil set new export records.
LEAN HOGS
Pork keeps dropping. Wednesday the cutout was down 42 cents with loins down 5.05 cents butts down 1.13 ribs off 1.16 and bellies dropping 8.11. However the drop in bellies was cancelled out with picnics up 6.59. Hams were up 7.26
The daily movement of pork has been big over the past couple of weeks. It appears packers are not wanting to store and since the start of May exports have fallen off from the first 4 months huge exports especially to China.
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