Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
It’s about time the short live cattle/long lean hog spread has some liquidation. Cash cattle are going to begin to narrow to futures over the next couple of weeks and cash hogs converge to the higher futures price for August.
LEAN HOG COMPLEX
Traders were buying nearby and selling on out. Volume was light. Spreads such as august to October and October to December are wide. At the same time they were liquidating long hogs and short cattle spreads.
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