Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume was light Thursday on another light day. Looking at open interest, traders, especially spreaders, giving up trades before the COF report. The drop on stocks may have attributed to lower futures. From now through march seasonal beef demand normally slows.
PORK COMPLEX
Tuesday through Thursday the daily pork carcass was off 8.44. The 5 day average is 98.70 and Thursday the daily carcass prices was down to 94.03. Bellies have taken the biggest drop down over the past 5 days $41.20. But through the week both hams and loins are down.
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