Written Commentary
MORNING LIVESTOCK OUTLOOK
Last Friday, the trade volume on Live Cattle futures was very slow and the trade volume in Lean Hogs was active. Monday, the opposite happened. Live Cattle volume increased and Lean Hog volume was low. Cheap Canadian dollar likely will see increasing exports of beef into the US. Canada largest seller to the US.
Big move higher on morning pork carcass failed to generate buying on hog futures Monday. In fact it failed to do much of anything on hog futures because Lean Hog trade volume was very light Monday. However, after last Friday’s surge higher on hog futures, Monday traders are waiting to see if there will be follow through buying this week.
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