Trade Volume Moderate in Hogs
MORNING LIVESTOCK FUTURES OUTLOOK
Trade volume on Lean Hogs was moderately active as traders bought summer hogs and sold fall into 2024 Lean Hogs. Pork is benefiting from high beef prices.
Live Cattle futures gapped higher on the open, moved higher and then reversed. October 2023, December 2023 and February 2024 had key reversals, gapping higher on the open and closing below the previous day’s lows. August 2023 did gap higher but closed above the previous day’s low for an outside day down and found support and a low on the 5 day moving average. Cash cattle markets continue to move higher week after week.
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