Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Anthrax has killed cattle in Wyoming. It is one reason live cattle futures were down on Thursday, but not the entire reason. Also, reports show avian flu is now in dairy herds in California. Cash cattle prices are starting out $2.00 lower. Prices in the Midwest $180 to $182.00 with a handful at $183.00 and in the southwest $181.00.
LEAN HOGS
With US hog slaughter at the end of august 2024 over 1,000,000 head more than 2023 and increasing EU hog inventories along with global beef supplies growing, hog and pork prices will continue to move lower for 2024 and into 2025. currently, there is some support of sorts for hogs coming from spread traders.
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