Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
The CME Beef Index was down 71 cents. Wholesale suppliers are stocking up on the products for the holiday demand and consumers are buying the ground beef and lesser priced beef saving up for the holiday buying. With the high employment, holiday buying should be a 3-peat and see strong buying for high priced cuts for the holidays. Beef briskets are a popular beef cut during Rosh Hashanah. This year it was from October 2nd through October 4th .
PORK COMPLEX
Trade volume was moderately active Wednesday and Thursday but Friday it appears traders decided they wanted a 3 day week end and volume was light. Pork prices have been slowly working higher. The CME Pork Cutout was up $1.36 compared to a week ago. The 5 day daily pork carcass price was up 68 cents. The CME Lean Hog Index up 73 cents.
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