Written Commentary
MORNING LIVESTOCK OUTLOOK
Cattle futures trading Tuesday was extremely slow. It was if traders opened trading in the morning and then went out first for coffee, then brunch and then stayed out for lunch. December traders are watching the beef market move down and feedlot owners are still expecting packers to pay higher for cash cattle this week. Trade volume was very light.
There is nothing bullish taking place in the hog market or pork market. Cash hogs are down, the CME Lean Hog and Pork Index have been moving lower and the daily morning pork carcass has been dropping.
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