Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Futures trade volume was light Tuesday. It is going to be light this week ahead of the COF report on Friday. As it usually happens, spec traders will position themselves to be flat or spread before the report.
Beef prices are starting out the week higher. Packers have pared down slaughter to the point less beef is available for the daily boxed beef sales. Packers are making sure for every cattle killed there is an order for beef.
LEAN HOGS
December Lean Hogs made new contract lows Tuesday and closed on a new contract low. February also did the same. Trade volume was moderate.
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