Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
News that stocks were making new highs Wednesday happened after cattle closed. Thursday futures could start out benefiting from the news. However, early cash cattle prices for the weak are starting out lower and packers are definitely discounting cattle for light weights and grade. Trade volume was light Wednesday for LC.
LEAN HOGS
The CME Lean Hog Index prices dropping and the CME Pork Index moving up is good news for packers. Packers have slowed slaughter offering less pork that they need to sell on the cash pork market. Tuesday, December 13th December Lean Hog futures settled at $67.92. The CME Lean Hog Index was $67.70.
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