Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
After the cash move higher last week, packers will be slow to buy cattle this week. Showlists are bigger this week as feedlots are moving a few more cattle trying to take advantage of the higher prices of last week. The beef market has been steadily moving higher giving feedlots a bit of an advantage.
LEAN HOGS
The pork carcass price on the daily price sheet dropped to $97.66 on Wednesday and the 5 day pork carcass average was $98.60. Pork is dependent on strong exports and worldwide competition is increasing. Traders will be watching for Friday’s report.
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