Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
Traders tried buying Lean Hogs Monday, but with cash hogs down and the lower pork prices, Lean Hog futures sold off. Hogs are falling at a slower pace than pork. The difference between the CME Lean Hog Index and the CME Pork Index has narrowed to $6.87. The narrowing is not positive for the packer.
LIVE CATTLE
June Live Cattle settled at $193.50 and August Live Cattle made no attempt on Monday at trying to meet June’s settlement price nor did traders pay attention to the much higher boxed beef market.
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