Lean Hog Futures Were Down
MORNING LIVESTOCK OUTLOOK
Lean Hog futures were down Wednesday and it was obvious speculative traders are bear spreading. Packer profit margins are dropping. Pork prices have been going down and cash hogs have been slowly declining.
Live Cattle futures were slightly lower Wednesday as traders continue to bear spread. Volume is moderate. The slowing of the futures indicates the cash market may trade sideways as it has several times over the past year.
Feeder Cattle are sometimes predictable because they trade the opposite of the corn market direction. However, they are staying withing the range of the CME Index and should throughout the month.
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