Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume on cattle has been light. With spread traders controlling futures, volatility is expected. Spreaders aren’t trading price; they trade the differential between commodities.
Temperatures from south to north will see many areas over 100 degrees. It will be hard on cattle. This summer especially in the southwest, it has slowed feed conversion.
LEAN HOG COMPLEX
On Friday, butts and picnics were higher likely due to last minute buying for labor day. Picnics are cheap. However, ham prices are down for the week. Hams have been a leader in the pork carcass. They have been a large part of pork exports.
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