Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle futures trade volume was light again on Thursday. The Choice boxed beef market over the past 5 days has little change ranging from a low a week ago at $302.56 to a high Monday at $304.22 with sales Thursday at $303.14 in the morning and $302.86 on afternoon sales The change has been the narrowing of the spread between Choice and Select beef narrowing Thursday to $23.10 and the larger movements of Select beef. As of Thursday the cash cattle market is at a standstill.
LEAN HOGS
August Lean Hogs were slightly higher Thursday and lower from October on out. Trading was light with October Lean Hog Globex volume just 11,488 contracts. Pork exports have been consistently good this year. Mexico was back as the largest buyer which is definitely needed.
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