Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live cattle were higher Tuesday on moderately active volume. Spread trading was the majority of the action with bear spreading cattle and buying cattle and selling hogs. Also, hedge shorts are liquidating.
PORK COMPLEX
Hog slaughter is increasing and with more hogs pork prices have been going down. The Hogs and Pigs report did point out that hogs 180 pounds and over were at 100% and hogs weighing 120 to 179 were at 100% .
Dec/Feb lean hogs and Feb/April lean hogs are bear spread and spreads should soon begin to reverse if the report was accurate.
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