Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Boxed beef was up Monday but the strength in the beef market wasn’t able to hold Live Cattle futures near the morning highs. December Live Cattle closed up 42 cents, 20 cents off the lows of the day and $1.90 off the early trading highs.
LEAN HOGS
Pork prices on the daily cash trade were down Monday 10 cents in the morning and by the afternoon they were off 1.19. The daily carcass prices is the lowest it has been over the past 5 days as is the 5 day average carcass prices. The strength in exports are the legs keeping pork prices from falling. They have been consistent throughout the year. However, it is mainly due to Mexico and Mexico increasing imports to fight inflation.
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