Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume was light Thursday. Once again spreading was the majority of trading. Cattle traders are waiting for the cash market.
The choice beef market continued to collapse Wednesday. As of the morning price over the past 7 days choice beef was down $12.05 and select beef was down $9.72. Select beef is higher than choice.
LEAN HOG COMPLEX
Similar to Wednesday spread traders continued to bear spread summer to fall and winter. June and July are bear spread and it goes along with the hogs and pigs report expecting more hogs during the time.
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