Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live Cattle trade volume was moderate Tuesday. Live cattle closed slightly higher but about $1.00 from the high. Packers are going to use contracted cattle and their own cattle this week and won’t aggressively being buying cattle. Going forward, beef prices will depend on choice rib primals.
PORK COMPLEX
Hog trading was moderate Tuesday. October is closing the difference between the CME Lean Hog Index and traders slightly narrowed bear spreads from December through April.
Pork prices have been slowly working higher. Hurricane Helene in the southeast has slowed movement. Smithfield foods said transportation for hog production was hurt but the packing plant and facilities wasn’t damaged. Poultry producers and plant operations did see death losses and plant damages.
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