Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
For a day after a Cattle on Feed report trade volume was light. February live cattle was up to $199.20 as it moves closer to convergence with last week’s cash 5 day negotiated average at $201.14.
PORK COMPLEX
Packer margins dropped to negative. Hogs are current. Weights averaged last week at 292, the same as the week before and 2 pounds more than last year. Pork production was up .1% for the week.
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