Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
LC futures on Wednesday saw active trading but not as active as Tuesday, after shaking out a few longs on the opening and dropping down to the 22 day moving average, traders resumed rolling and bear spreading. But it can’t be forgotten that the cattle inventory is down. Strong buying for cattle or for beef can occur anytime.
PORK COMPLEX
Cash pork prices have been slowly and steadily moving higher while cash hog prices are higher but moving slower than pork. Packers are pushing slaughter as much as they can without weights dropping. With analysts expecting increasing US pork consumption, it is positive for pork. However with US pork exports down and likely to stay down, the weak exports will have negative influence.
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