Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Futures reversed the morning slide by the close Tuesday.
The increase open interest on live cattle is one of the best indicators now for price direction especially as traders are bull spreading and cattle are gaining on hogs.
PORK COMPLEX
If it wasn’t for bellies popping up $19.39 Tuesday morning and later up $7.77 that the cutout would have been lower.
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