Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
The December/February spread and February/April spread moved from bull spreads to neutral and moving to bear spreads over the week.
Beef prices are going to depend on the need for the leaner beef from the Southwest now through the end of the year and what choice cattle packers need to fill seasonal demand.
LEAN HOG COMPLEX
It is easy to see why lean hog futures are coming down. Both cash hogs and cash pork prices have been slowly and steadily dropping.
the spread between futures and December lean hogs is $11.06. There is about a month before December expires. Cash prices have been dropping but not as fast as December lean hogs
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