Written Commentary
MORNING LIVESTOCK OUTLOOK
Live Cattle futures are bear spread. Volume on Monday showed not many traders are interested in buying cattle. GLOBEX volume on February was only 15,993 contracts and April 2023 Live Cattle volume was only 8,287 contracts and volume drops fast for summer and fall cattle.
Tuesday the daily pork carcass price gained 3.36 with gains on hams, bellies and picnics and loins put on 1.31. The 5 day average prices for the carcass has gained close to $1.00 at 87.81. It is still very cheap.
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