Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Thursday, live cattle trade volume was light which was expected before the COF report on Friday. On October 25th, the last COF report, December live cattle settled at $189.15. On October 28th following the COF report Dec cattle settled at $189.27.
PORK COMPLEX
Trading was slow Thursday. Packers aren’t having any trouble finding hogs for slaughter and now packers are losing money. At this point packers will be watching prices needed they pay for hogs to how many they will kill. Weights will increase and packers will limit kill on hogs they buy on the open market giving more importance to carcass, formula hogs. And hogs they outright own.
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