Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
With less than 2 weeks to go before December Lean Hogs expire December settled Monday at $68.05. The CME Lean Hog Index is $70.58. Packer margins improve. Although the CME Pork Index has been slowing dropping, the CME Lean Hog Index is dropping at a faster rate. Hog prices are dropping as slaughter and weights increase. Pork has been on a steady decline.
Hungry little pigs in pigsty.
LIVE CATTLE
Monday, February 2024 Live Cattle fell to the same level it was a on Monday December 5, 2022. Traders continue to bear spread. Volume was moderately active. With slaughter down there is increasing load movement in the daily boxed beef sales suggesting there is less beef contracting.
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