Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle futures Trade volume was moderately active. Traders were taking profits ahead of the Cattle on Feed report on Friday afternoon. COF Report shows bigger placements are due to more feeders going into feedlots because pasture conditions remain in poor conditions. At least high prices for feeders will encourage breeding.
LEAN HOGS
July Lean Hogs went off the board at $102.35. They settled at $102.53 on 07/19/2023. Thursday, 07/20/2023, August 2023 Lean Hogs came within 50 cents at $101.85 to fill gap when July 2023 Lean Hogs expired. Friday , 07.21/2023 August high was 101.87.
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