Written Commentary
LIVESTOCK AM OUTLOOK
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Cattle futures were relatively quiet Wednesday. After all, it is the dog days of summer.
Because of the strong boxed beef market, feedlots waiting to see if packers share profits and are asking $2.00 to $3.00 more than a week ago. However, if the Fed Cattle Exchange is any indication for cattle in the Southwest, expectations of $1.00 will likely be more in line.
The price change in hams is a good reason not to watch the daily movement of the Pork Carcass Cutout and why watching the 5 day moving average gives better outlook on how the Cutout will trend.
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