Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Traders rolling and spreading made up most of Tuesday’s trade. Trade volume was moderate for December, a little more active for February and light on out from April. Cattle moved up to the 10 day moving average and fell off the highs to close slightly below the 5 day moving average. Last Friday, Live Cattle futures were slightly oversold. After Monday’s and Tuesday’s trade that is no longer the case.
LEAN HOGS
December 2023 Lean Hogs settled at $72.30 on December 14th. The CME Lean Hog Index is at $76.05 and $3.75 over December 2023 futures. Trade volume was light Tuesday. Rolls are a big part of the trading. The biggest thing hogs have going for them are strong exports.
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