Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume was moderate on Thursday. The majority of the traders were spreaders reversing bear spreads. Traders have been using December as the short leg and buying 2026 contracts. Thursday, they did the opposite. Look for the spreaders in October to trade the opposite as they did in September.
PORK COMPLEX
On Thursday on light to moderate volume, traders were buying October, selling December and mostly buying December and selling into 2026 hogs. Pork prices have been slowly and steadily going down. Traders have been expecting that pork consumption in the US is increasing but the pork and hog markets are indicating the opposite.
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