Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle trade volume was moderate Tuesday. Traders keeping long June contracts as it is discount to cash. The Cold Storage report should not affect cattle with June going off the board this week. The Live Cattle market is trying to figure out what the big placement numbers on last week’s Cattle on Feed report will do for prices.
LEAN HOGS
Lean Hog prices have been dropping. Fewer pork supplies in storage when slaughter is up is friendly. Over the next couple of days the news from the Cold Storage report should bring Lean Hogs up off the recent lows before the Hogs and Pigs report on June 27th.
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