Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
Monday through Wednesday Lean Hog futures have bounced from lower to higher and Wednesday slightly lower to settle about where Lean Hogs closed last Friday. In other words, quick trading algorithms are moving futures mostly with spreads. Cash prices have been creeping slowly higher as has pork. Traders will be watching for exports Thursday.
LIVE CATTLE
Trade volume increased Wednesday as Live Cattle prices moved higher. Carcass weights are going up as packers slow kill. Feedlots watching boxed beef prices are asking for more money this week. Asking prices are $190.00 cash and $300.00 for dressed cattle prices.
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