Written Commentary
MORNING LIVESTOCK OUTLOOK
Thursday’s trading was quiet. For June Live Cattle, the most active contract the high was $134.97 and the low $134.22, 75 cents. GLOBEX trade volume was 17,559 contracts.
Pork carcass was up on early sales Thursday but it was on very light movement of 130.7 loads with 20.37 of the movement trimmings. It is hard to tell if packers are intentionally keeping slaughter down or is it the lack of hogs. Keeping slaughter down means less pork is available for sale on the daily market allowing sellers to control pricing.
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