Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE COMPLEX
So far, they have been no cash trades for the week. With lower beef prices packers are talking lower with feedlots asking steady to higher.
After Tuesday’s active trade volume, on Wednesday trade volume was light. Traders were mostly spreading buying cattle and selling hogs as well as buying cattle spreads.
Beef prices were lower wednesday. Primal cuts that go mostly to processing and ground beef such as rounds were lower getting pressure from imports.
LEAN HOG COMPLEX
Tuesday pork per higher for the second day. Loins have at least bounced off their lows and as cheap as pork has been, demand should increase especially export demand.
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