Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live cattle volume was light Tuesday with the majority of trading spreading. With recent all-time highs made on June 16th, traders were selling live cattle and buying lean hogs as well as bear spreading live cattle.
Packers have a larger showlist to buy from this week.
LEAN HOG COMPLEX
Volume was moderate on Tuesday. Spread traders were active from august on out with wide spread differences between August/October and October and December. At the same time spread traders were buying hogs and selling cattle with cattle/hog spreads slightly narrower than the June 16th all-time contracts highs.
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