Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Packers are quiet and this week it looks like another light kill. Beef load movement has picked back up and increasing beef sold on the daily market is bearish for beef prices.
PORK COMPLEX
Trading on Wednesday was dead. December volume was just 14,552 contracts and February was 7,997 contracts. The December trading range was just 90 cents and February was even tighter at 65 cents.
With the Hogs and Pigs report after the close on Thursday, it is likely trading will be the same during the trading session on Thursday unless large speculators, especially algorithms, step in before the report.
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