Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live Cattle volume increased Thursday as futures continued to slide lower. February cattle dropped to the 200 day moving average with lows made into the close. February Globex volume was 30,225 contracts.
End of the year liquidation has been occurring ahead of the COF Report.
PORK COMPLEX
Lean Hog open interest has fallen and lean hog futures are off the December 3rd highs, but at the end of the year after prices have surged, how much is due to speculative liquidation and how much has been hedging?
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