Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume was light for the second day on Thursday. Traders technical trading, spreading as bull spreads narrow. Beef prices continue to work lower. From now through March, beef demand slows.
Watch out for more reports about avian flu. Reporters will want more to report to justify lower beef and cattle prices and not just lower seasonal demand.
PORK COMPLEX
Producers are pleased as the CME Lean Hog Index continues to move up and packers have even better margins with pork gaining on hogs. Slaughter is also beginning to move up. Pork and hog prices have been consistently moving up.
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