Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE COMPLEX
Volume was light. Spreading was the majority of the trading. Select beef prices were much higher yesterday morning because only 8.68 loads were sold. More than likely a grinder needed lean beef and when there is such a small amount for sale, the buyer has to pay the sellers asking price.
Feeder Cattle demand should remain good as contract feedlots and packer feedlots need cattle to fill previously contracted beef orders.
LEAN HOG COMPLEX
October 2026 lean hogs expired Wednesday and now December becomes the lead month. Wednesday December lean hogs closed $9.87 under the CME Lean Hog Index. There are about 2 months before December hogs go off the board and it gives speculators a lot of time to move futures, the October/December lean hog spread is bull spread which normally would have December move closer to where October expired.
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