Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle futures opened steady to weaker and dropping down to lows of September 6th but the light volume selling wasn’t followed through with new shorts and sellers quickly reversed as cash sales in the Southwest were reported. Volume was moderately active.
Feedlots moved cattle Wed and packers needed to strengthen prices in the Southwest. Prices between the Southwest are now even with the Midwest with packers paying $182.00 to mostly $183.00.
LEAN HOGS
Hog weights are very slowly moving up but remain below a year ago. It likely indicates both contract producers, packer owned hogs and producers selling negotiated hogs want to move hogs ahead of decreasing prices.
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