Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
PORK COMPLEX
Trade volume picked up Wednesday but was still just moderate and reversed Tuesday’s down turn. December dropped to support on the 20 day moving average and then turned higher.
Dec 2024 lean hogs – resistance at 78.75 support at the 20 day moving average at 75.40 (chart below)
Chart provided by ESignal Interactive.com
CATTLE COMPLEX
Boxed beef prices are climbing higher day after day. The power cuts behind the move are primal ribs, primal loins and primal chucks.
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