Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
Hogs closed down Wednesday after trying to move higher near the open but with premiums Lean Hogs have to cash hogs, rallies will be hard to maintain. This week CME Lean Hogs have been gaining on the CME Pork Index.
LIVE CATTLE
The Dow Jones Industrial were down Wednesday when cattle were trading and it may have lent some negativity. Boxed beef has been moving down but it is still high. There is always the talk about recession but, it is doubtful it is what pulled futures down Wednesday. Chalk the lower close Wednesday on traders rolling out of June and pressure from the roll. Traders are bull spread and in the long run it is what to watch.
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