Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
February Live Cattle gapped open Friday moved up to highs of October 2024 and reversed. Volume was very active with 45,827 contracts trading. Spread traders were active with intermarket and intermarket trading. Record high cash cattle prices last week.
PORK COMPLEX
Open interest in LH falling fast with long liquidation. Bear spreads are wide. The difference between the CME Lean Hog Index and the CME Pork Cutout is narrowing. Packer profits are shrinking.
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