Slow Trading Day in The Markets
MORNING LIVESTOCK OUTLOOK
It was a slow trading day on Tuesday. Volume was light for live cattle markets. There was small downside that appeared to be traders filling gaps between Friday’s highs and Monday’s lows, but gaps were left unfilled. The trading range was tight. February 2023 Live Cattle from the low to high moved just 65 cents.
The CME Lean Hog Index is moving lower as December Lean Hogs move up to converge in about three weeks. Lean Hog trading was light Tuesday and likely will be light the remainder of the week.8989
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