Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Packers finished buying Friday on a light buy. As of Friday only 2,416 head were sold on the showlist in Texas. The cash cattle market opened up Thursday. In the southwest cash cattle were selling for $186.00 to $187.00 with most at $187.00, $1.00 higher than a week ago. In the Midwest cattle sold for $187.00- $188.00 with 381 head live delivered at 187.00-192.00 averaging 190.53. Dressed cattle were $296.00 steady with last week. Boxed beef continues to move higher.
PORK COMPLEX
The CME Lean Hog Index was down 43 cents and the CME Pork Cutout Index was down 48 cents. As of morning sales the daily 5 day pork carcass average was no different than a week ago. Continued strong exports are the plus side for the market as more hogs are hitting kill. Mexican purchases should remain strong going into the holidays.
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