Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
Lean Hogs tried to rally Thursday and with strong exports they had a good fundamental reason to do it. But trade volume was light Thursday and longs took a quick $1.00 and ended up giving all back for the complex to close mixed. Cash prices have been moving up.
Hog producers are benefiting from Mexico’s high inflation and strong Peso.
LIVE CATTLE
Cash cattle trading began Thursday. Midwest cattle were selling mostly for $185.00 with dressed prices $293.00 to $295.00 with one group of 303 mixed steers and heifers selling up to $301.00 averaging $299.44. Southwest cattle were $182.00. Compared to last week cattle were a solid $2.00 lower.
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