Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle futures was active Tuesday. December Live Cattle closed at $186.65 below the 50 day moving average for the first time since May 5th. Next support is the 100 day moving average at 182.72. Boxed beef was slightly lower early Monday due mostly with Choice primal rib sections falling $15.07 in the morning and $13.41 on afternoon sale.
LEAN HOGS
Early pork sales Monday were up 98 cents regaining the loss of Tuesday’s carcass prices down 1.19. Packers are pushing hogs through the plant working to keep hogs current. With the increasing number of hogs killed, additional weight combined with more hogs will tip pork prices lower. More pork offered to the consumer will be negative to beef prices and why the Cattle/Hog spread appears to have topped.
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