Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
SNAP payments stopped Nov 1st. About 42 million people in the US will stop getting food stamp payments. It will likely have a negative effect on meat purchases on wholesale and retail levels.
Talks this week with Mexico were not positive for the current time, but remember when the screwworm first showed up, Secretary Rollins said the quarantine would last until December. She may still think the same.
LEAN HOG COMPLEX
Slow trading for lean hogs over the week. Bear spreads slightly narrowed but remain bear spread. December – April lean hogs gained about $4.00 on December – April live cattle.
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