Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Cattle On Feed report was just a bit above estimates and as expected marketings were up 5.3%. Prices moved higher into the report over the past week. With a short kill week next week with Thanksgiving and the large slaughter this past week, futures on Monday could open flat. Trading will also depend on beef prices. In the long run, the report was slightly negative with increasing placements.
PORK COMPLEX
Cash hogs and pork prices were down for the week. Futures were higher. Bear spreads widened for December, February and April. Open Interest has increased on low volume trading.
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