Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE COMPLEX
Spread traders extended bear spreads Thursday. So far there has only been a handful of cash cattle sold with feedlots trying to recoup some of last week’s losses. Choice boxed beef was lower with declines on chucks, rounds, flanks and plates.
LEAN HOG COMPLEX
Trade volume is active in hogs because open interest is large. Wednesday morning December open interest was 95,597, February was 101,888 and April was 52,111. Over the next month volume should remain active with liquidation of December.
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