TFM360 Livestock 6-30-2023

Live cattle futures finished the week sharply higher with December, February and April making new contract highs.
Cash trade was mostly steady this week but the extreme heat in the south may be triggering some buying.
Beef exports for the week ending June 22nd were 12,048 MT compared to 13,305 the previous week and the 4 week average of 12,805.
China was the largest buying at 2,486 MT followed by Japan at 2,467.

Lean hog futures finished the week mixed with July and August higher and the remaining contracts lower.
The later months were pressure by yesterdays bearish Hogs and Pigs report that showed market hogs above expectations.
Cutout values were sharply higher this week gaining almost $10.00 suggesting demand remains strong.
The CME Lean Hog Index continues to trend higher and has been up 8 of the past 9 weeks.

Eric Fransen