Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
A pogo stick trade on Friday with part of the trade rolling with the Goldman Sachs index along with traders taking quick profits after the week’s decline. Trade volume was moderate.
President Trump has asked the DOJ to look into meatpackers manipulating prices.
Cash feeders prices will depend on if packers have beef contracted and if grain producer/cattle producers place feeders to sell low price grain.
LEAN HOG COMPLEX
Cash pork prices have turned lower, pulling down hog prices. However, packer margins are in the black and packers pushed up kill. Pork is in a seasonal slow demand period.
Trade volume has been light.
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