Written Commentary
MORNING LIVESTOCK OUTLOOK
Higher prices for feeder cattle and the availability of feeder cattle may play right into what the packer wants, heavier cattle. Interests increasing along with fewer feeder cattle are going to add to costs of feedlots. Wednesday, trade volume in cattle was very light. From lows to highs of the day, there wasn’t even a $1.00 range.
Packers are buying as many hogs as possible that are market ready. Weights on formula and carcass purchased hogs have been coming down and feedlots that sell on the open market are moving hogs as soon as they are ready capturing the better prices as they move up. Volume was light on Lean hogs Wednesday. Traders narrowing spreads pulling up October to be closer to August.
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