Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Cash cattle for the week haven’t been established with packers waiting until Friday. This week packers haven’t tried to push slaughter to make up for no kill on July 4th packers do have advantage of knowing how many cattle will be needed to meet contracted beef orders and what will be needed to fill shelves next week after the demand or July 4th.
LEAN HOGS
On very light sales Wednesday daily pork prices were down 0.69 cents. The 5 day pork carcass price was down 38 cents. The CME Lean Hog Index/CME Pork Index is narrowing and cutting into packer margins.
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