Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle trade volume on Thursday was the lightest day of the week and prices came back to the levels they closed near last Friday, December 15th. Traders continue to bear spread. This week trading has been like a yoyo with the string getting shorter each day.
LEAN HOGS
As hog numbers increased in 2023, the pork market couldn’t keep up with the increasing hog numbers. With beef prices dropping in 2024, pork is going to lose some demand with cheaper beef especially low priced beef cuts and cheaper ground beef. The start of 2024 will also see more beef as cattle are moved at higher weights putting more trimmings and ground beef on the market.
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