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- 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.