Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
With the war in the Israel, crude oil prices up and the stock market down likely will affect the cattle market.
Live Cattle futures open lower Friday and reversed on the positive beef news Futures trade volume was moderate on December Live Cattle and light for other months. For the week October 2023 Live Cattle were down $3.27 compared to last Friday and with Monday, October 9th first notice day after the close. December 2023 Live Cattle were down $3.47 compared to a week ago.
LEAN HOGS
Trade volume was light to moderate Friday with most trading by far on December. October 2023 Lean Hogs closed up for the week as October moved to close the gap between a lower futures to a higher CME Lean Hog Index. The current CME Lean Hog Index is 83.70 and October Lean Hogs settled Friday at 82.32, up $2.12 for the week
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