MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Thursday cash markets were trading at in the same ranges as a week ago, 201.00 to 205.00 in the Midwest but prices paid were closer to the upper price. Cattle in the Midwest averaged 204.12. Kansas and Texas averaged 201.00 to 202.00 with good movement. Dressed cattle were $320 to a few as high as $327.00.
PORK COMPLEX
Main trading on Thursday was convergence of February lean hogs futures and cash hogs and spec traders widening the February/April spread. Trade volume was light Thursday. February lean hog Globex volume was 21,657 and April 19,672. The Feb/April lean hog spread widened out to $8.25. Specs continue to widen the spread.
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