Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Cash buyers became active on Wednesday in the Midwest buying at $245.00 and dressed 380.00-392.00 averaging up to $387.39 in Nebraska. There was light buying in Kansas at 237.00 , $2.00 higher than last week but no quotes in Texas.
Feeder cattle made new highs near the open and turned around when grain prices turn higher and ended up higher on the day. Volume was light.
PORK COMPLEX
Had to look twice Thursday at trade volume for lean hogs because it was so light. Lean hog futures have been in a trading range since mid-July. The biggest change has been how spread traders have been widening bear spreads. As of the close Thursday now that October is the lead month the difference between the CME Lean Hog Index and October is $18.65.
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