Written Commentary
MORNING LIVESTOCK OUTLOOK
Tuesday on afternoon sales there were 312 loads of pork moved and the larger movement and more available pork to sell had the pork carcass drop $1.58. Larger movement on the daily market also means less pork is being sold on previously contracted sales. This will be important to watch going forward. Bigger supplies sold on the daily market will be negative. Cash hog prices are down close to $11.00 from a year ago.
February Live Cattle closed and went off the board Tuesday at $167.50. February moved higher the last hour of trading. At 11:10AM CST Feb Live Cattle were trading at $166.37 and moved up through the hour. February settled on February 27th at $165.00. Open Interest as of Tuesday morning was 178 contracts.
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