Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume was light to moderate Tuesday as futures moved higher with spec traders bear spreading. With the strength in the boxed beef market and the light showlist for this week, it will be difficult for packers not to pay at the very least steady but realistically higher.
LEAN HOG COMPLEX
On moderate trade volume lean hog futures were higher Tuesday recovering a part of the losses of the previous 3 days. They bounced up to near term resistance, the 5 day moving average.
Consumers may be eating more pork but it is from an increase in products made of trimmings and cuts for processing like sausages versus eating more pork chops or ham.
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