Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
New contract highs and new contract high closes in Live Cattle were made on Wed on light volume.
Unless the COF holds surprises, cattle and beef prices likely will be moved on demand for beef which has been going down. August is not a good time for beef until the latter part of the month as buyers pick up buying for Labor Day.
LEAN HOGS
CME Lean Hog prices going up slower than the CME Pork Index is positive for the packer. If needed, packers will pay more for hogs. The difference needs to be monitored.
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