Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
The fund trading yoyo moved live cattle higher Monday. Feeder cattle were first up the limit followed by live cattle. Volume was active but not as active as last week when prices were limit down. If you need a fundamental reason, using the government going back is as good as any, but the reality the trading is active speculative and the trading taking place with the big moves is likely to occur over the next couple of weeks.
Feeder cattle futures reversed Monday to move limit up.
LEAN HOG COMPLEX
Lean hog trade volume was heavy Monday. Volume on December was 56,092contracts and February was 41,060. Lean hog prices have been in a steady decline since September 26th and a reversal was going to happen. December lean hogs topped at 91.52 and fell Monday November 10th to 78.80 and then reversed to gain 3.97. Spreads suggest it was mostly long liquidation. adm_reearch_lite_livestock1
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