Written Commentary
Livestock Morning Outlook
With delivery possible tonight and cash markets essentially at October futures, feedlots that held off cattle on showlist last week should and likely will have them on this week’s list adding more cash cattle for packers to buy. Packers will also have their own cattle and forwarded contracted cattle they can put on the kill. Feedlots will ask $110 but whether they get it with extra available cattle will depend on what the boxed beef market does through the week.
Hog futures trading is very light. Specs spreading is what moves the market. December is short leg to October and short leg to February. At some point, the short side will be lifted.
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