Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Agricultural secretary is expected to make an announcement about screwworm in Texas on Friday with rumors she will re-open the border.
Total open interest has been going down. Some has to do with short liquidation and buy stops and another indicator is how bull spreads have gone flat to bear spread as traders get out of positions.
PORK COMPLEX
Lean hogs were lower Wednesday as slaughter increases. Compared to a week ago slaughter is up 84,000 head.
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