Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
Trade volume was light Tuesday. Bear spreads narrowed a bit but remain bear spread. The price of cash hogs has been steadily dropping. Although cash hogs are a smaller part of the total hog slaughter compared to contract hogs and packer owned hogs. The price movement for cash hogs are barometer of price direction.
LIVE CATTLE
Choice Boxed Beef gained for the second day as buyers tacked on better prices for Chucks, Loins and especially higher prices for Briskets, Plates and Flanks. Total Choice movement on Tuesday was 89.5 loads. Slaughter last week was 635,000 the same as the previous week. Cattle weights are increasing. Right now and through most of December buyers for the holidays such as restaurants and event locations can take heavier cuts.
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