Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Slow trading day Tuesday. Feedlots are looking for better cash markets but after the light slaughter over the past two weeks, traders see packers won’t buy cattle unless they buy them at their price.
Live Cattle from October 2023 on out and Feeder Cattle futures fell to support to the 20 day moving average on light to moderate volume.
LEAN HOGS
Cash pork prices were down on early sales Tuesday because bellies were down $17.91. Loins were down almost as much as hams were up. It has been bellies moving the pork prices and we could be near the end of their summer rally.
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