Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE COMPLEX
Traders were rolling October to December on Tuesday.
300,000 mt tons of beef is expected to be imported to the US over 90 days. It will have to come from several countries. Up to august 29th Argentina has exported a total 67,078 mt, Australia the largest seller has exported 345,700 mt, Brazil sent 229,294 mt, Canada at 182,112 mt, Mexico at 179,787 mt, New Zealand at 56,318 mt, Nicaragua at 46,219 mt and Uruguay at 80,388 mt.
LEAN HOG COMPLEX
On Tuesday all negotiated priced hogs were below $90.00.
Exports were down from last week but at 35,000 mt they were strong. It wasn’t unusual to see China a buyer. With 1 holiday at the end of September and the fall festival the first week of October, it has been common to have China buy fresh pork for the holidays.
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