Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Look for beef prices to remain strong until store have shelves filled to wanted levels. Depending on the weather beef prices likely to remain high for chucks and rounds until mid-January. It will continue to narrow the choice/select spread.
PORK COMPLEX
Pork prices are getting knocked around with loins and hams leading prices down. Loins on the Monday cutout were down 2.98 on late sales and hams were off 3.12. The difference between the CME Lean Hog Index and the CME Pork Cutout is narrowing. Packer profits are shrinking.
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