Written Commentary
MORNING LIVESTOCK OUTLOOK
Live Cattle and Feeder Cattle trade volume picked up big on Monday. GLOBEX volume on August 2022 Live Cattle was 42,505 contracts. After gapping lower on the open, Live Cattle futures reversed and closed higher with spreaders actively bull spreading.
Pork exports have been very good especially with the light slaughter. U.S. Retailers are having nationwide specials on pork loins. How long retailers can continue to sell cheap pork is the big question.
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