Lean Hogs Downward Trend Continues
MORNING LIVESTOCK FUTURES OUTLOOK
Live Cattle trade volume was moderate. Cash is over futures for cattle in the Midwest and grading Choice and Prime but with cattle going through the heat in the Southwest and hard to find high grading cattle, few cattle are bringing cash prices near futures. August Live Cattle settled 22 cents under the highest futures close at $181.32 on July 19th.
Lean hogs were down again Thursday. The last time October Lean Hogs were as low was July 5th and December dropped to lows back to June 9th. October through February Lean Hogs gapped lower. Daily pork sales have become a yoyo. Daily pork movement is so light compared to the amount of total hogs killed, daily price volatility has become the norm.
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