Placements Lower Than Expected
LIVESTOCK AM OUTLOOK
The Cattle on Feed report was considered slightly supportive with low placements for the month of July.
Good size slaughter for the week, 665,000 head. Packers were able to buy the heavier Choice cattle they needed out of the Midwest and in the Southwest they bought cattle at their price and didn’t need to buy many off the showlist. For daily beef buyers, this week was the week to fill out loads needed for Labor Day.
Futures trading for the week ending August 20th was like a kids teeter totter, one day up, one day down. For the week, October 2021 Lean hogs ended up $2.62, December 2021 hogs were up $1.52, February 2022 hogs $1.12 and April 2022 up 8.5 cents. Also, summer 2022 months gaining on April 2022.
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