Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Even with boxed beef market making new record highs Tuesday, traders aren’t connecting the trading in August on out. June fell not because of the cash market, but liquidation.
PORK COMPLEX
Spread trading was most of Tuesday’s lean hog trading. Spreaders were buying hogs and selling cattle a good part of the day. Volume was light to moderate. With July and August above cash hogs, traders were taking profits.
Cash pork and cash hogs continue to gain even as slaughter increases.
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