Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
As the Tyson plant winds down slaughter, cattle are being shifted to other packers. Fewer cattle are being slaughtered and beef prices are moving up. Cattle markets are also reacting to the December cattle on feed report where placements were down 11%.
LEAN HOG COMPLEX
Lean hog futures are reacting to the Hogs and Pigs report expecting an increase in inventory and traders are bear spreading. They are also reacting to the increase in current slaughter. The WASDE report also expects fewer exports. More hogs and fewer exports aren’t positive.
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