Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Boxed beef prices have moved up, but with packers keeping kill down and load movement light, unless packers get an unusually big beef order, expect packers to continue what they are doing especially in February a month when beef sales are low.
Tuesday the market wasn’t fixated on the screwworm as it was last Friday. As long as the sterilization program is keeping it in Mexico, it shows that the sterilization is working in the US where they are releasing the sterile male flies.
LEAN HOG COMPLEX
Pork production is higher on heavy sales to get pork out of system because there is too much.
Volume and open interest has been increasing in lean hogs indicating speculative funds spreading inter and intra market spreads
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