Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Trade volume increased Wednesday as Live Cattle futures rallied. After several weeks of low to moderate volume trade, this was positive for bulls. Also, traders reversed bear spreads. Demand for beef could increase as buyers place orders going into the end of the year and increasing demand for end of the year holidays.
LEAN HOGS
Trade volume on hogs and cattle were close to the same. But on Wednesday, Lean Hog traded independent of cattle and volume was light to moderate. The trading was confined to recent support and resistance. The CME Pork Index is gaining on the CME Lean Hog Index with pork prices going down and pork prices turning up. Pork has positive price movement and hogs have negative price movement.
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