Feeder Cattle Showed Strength Wed
MORNING LIVESTOCK OUTLOOK
Live Cattle futures volume slowed down Wednesday. Live Cattle contracts had less than $1.00 range. Volume on December Live Cattle was moderate at 18,884 contracts.
Feeder cattle showed some strength Wednesday. They should especially from feedlot buyers needing cattle in the southwest. The sellers that will likely benefit the most from prices paid are producers selling heifers.
The CME Lean Hog Index is minus 6.17 to the CME Pork Index. Pork has been narrowing to hogs over last week. Narrowing is negative for the packer.
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