Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle volume was light Monday. The RSI on February is now 41 and has corrected being technically oversold. Over the next few weeks trading could become light. Boxed beef prices started out Monday up with Chucks close to $8.00 higher and by the afternoon were $6.35 higher. Total load movement was moderate with a total of 134 loads.
LEAN HOGS
Trade volume was moderate Monday. December Lean Hogs expire this week. On Monday, December futures settled at $68.25. The CME Lean Hog Index was $68.76. The daily pork cutout was up Monday 95 cents but not because loins and hams were up. Bellies were up $10.86 while all other primal cuts were lower and movement was just 275.21 ;pads of pork cuts.
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