Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Monday futures trading was light. A few traders are beginning to roll out of August to September. Live Cattle spreaders are bear spread and according to the last COF report should remain bear spread. It’s July and a non-spot month which means speculators will dominate trading.
LEAN HOGS
Monday was a light volume trade and longs were buying July and spreaders continue to be bull spread July over August as the July August spread widened favoring July. The Hogs and Pigs report did show that there were slightly more hogs as of June 1st, there were slightly more hogs kept for breeding and slightly more hogs kept for market.
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