Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
As expected trade volume has been light for the week. Cattle futures were slightly higher Wednesday but the boxed beef market has been breaking as demand for rib and loin primals have dropped hard. Consumers are now going back to ground beef.
Plants closing in the coming year will combine more cattle which is expected to lower prices.
LEAN HOG COMPLEX
Lean hog futures were lower Wednesday with traders continuing bear spreads.
The Hogs and Pigs report was negative with an actual increase of hogs as well as 2% above estimates for all hogs as of December 1stat 101% .
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