Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Traders on Tuesday will be looking for a reversal especially if the Dow Jones trades higher throughout the day.
Live Cattle continued the tumble that began Friday. Futures gapped lower, recovered enough to fill gaps and by the end of the day made hard down lows. Talk of recession looms over markets. But as you recall, past down turns over the past year were often blamed on inflation concerns. At this point there isn’t a recession. Consumers would like to see deflation and lower prices.
LEAN HOGS
Lean Hog traders on Monday sold in reaction to the severe drop in the cattle complex. Volume was light. Spread traders, as they were last week, were selling October and December live cattle and buying October and December lean hogs.
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