Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Packers opened up bids Thursday at $190.00 with a few as high as $192.00, $2.00 higher than a week ago. Dressed cattle were 298.00 up $2.00. Prices are the same in the Midwest and southwest. Live Cattle futures took the positive news and closed higher with December Live Cattle finally closing above $188.30 at $189.25. December opened on the 5 day moving average, dropped to the 10 day and reversed to close the highest since July 29th.
PORK COMPLEX
Trade volume on Thursday increased but was far from heavy. December Lean Hogs, the most active contract, had volume at 26,789. December opened up slightly lower, turned higher making a new contract high at $80.30 and mid-morning moved off the highs to close down at 78.65 making an outside day down day.
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