Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live cattle trade volume was moderate. Bull spreading was obvious and on Wednesday bull spreads made new highs. As long as traders are bull spread, the market is indicating the trend is up.
With fires that scorched many pastures, the dry conditions still continuing and with plenty pen space in feedlots, feeders are going on feed earlier than usual.
LEAN HOG COMPLEX
Cash pork is gaining on the price of hogs. It’s good for packers. It’s good for the producer. Packers will want to kill more hogs.
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