Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
The big open interest is concerning. At this time, long hedgers have no reason to liquidate but speculators could liquidate at any time. Trade volume was moderate Wednesday as live cattle and feeders surged. February live cattle busted through contract highs made back to September 2023.
PORK COMPLEX
Trade volume was light Wednesday. Hogs closed slightly higher following the strength in cattle and recent slightly better cash prices for cash hogs and pork. Extreme cold temperatures and snowy roads in the southeast have slowed movement of hogs. Moderating and warmer temperatures into the weekend and next week should see movement increase.
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