Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle futures volume was moderately active Friday. New contract highs were made on all contracts except for October 2023 with April 2024 Live Cattle moving up to $199.82 and settling at $199.75 and February 2023 Live Cattle trading as high as $199.55 and settling at $199.25.
Inflation still a major concern for consumers at the grocery store with continued high beef prices and gas station. September is not a good month for beef with summer vacation bills, high bills from hot summer for utilities and school expenses.
LEAN HOGS
Packers will try to push more hogs to slaughter especially as more pork isn’t putting price pressure on the daily pork market. Fixed expenses per hog go down with more hogs killed. Hog weights are starting to creep higher.
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