Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
Flooding is keeping a few cattle and hogs from moving to kill along with packing house workers not able to travel in South Dakota, Minnesota and Northwest Iowa.
LIVE CATTLE
Live cattle traded lower at the open Monday but turned around and closed higher especially June and August. With June deeply discounted to cash and June going off the board this week, it’s hard to break futures.
LEAN HOGS
Monday, the daily pork carcass started out the week down 1.90 with loins getting slammed down 8.60. By afternoon sales loins were down 5.03. Hams were up on afternoon sales 2.92. The 5 day pork carcass average has dropped to 98.08. Last week Federal hog slaughter was up 39,000 hogs from the previous week and year to date slaughter was up 554,353 hogs.
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