Written Commentary
LIVESTOCK AM OUTLOOK
Big move up for the week in Boxed Beef prices. Although futures are not skyrocketing like beef, cattle improved from a week ago. For the time being, with the wide spreads already in the cattle futures, either new bullish news has to happen, or speculators need additional funds. Cattle prices should move higher into August.
August Lean Hogs with a week to go before expiration are trading cash markets and will converge before cash settlement 2 days after August settles. There is a lot of time between now and when October settles and during this time Lean Hogs will trade following the biggest amount of money of the largest traders, and the market shows it is the algorithmic spreaders.
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