Written Commentary
MORNING LIVESTOCK OUTLOOK
Trade volume was light to moderate for Live Cattle. After the steep drop on Monday, Feeder Cattle moved higher Tuesday in heavy trading volume. Some of the move may have to do with Corn and Wheat trading lower, but prices on cash have been moving lower.
Lean Hog trade volume was light Tuesday. Spec spreaders weren’t even active. Most notable feature for hogs is how the slaughter is increasing. Going forward there shouldn’t be much more increase in the slaughter if the Hogs and Pigs report was correct.
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