Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume has been light and it has been light since august 5th. It is likely to stay light. Funds usually allocate on the quarter year or half year . With volume in grains and other commodities up, coming into livestock may have to wait until 2025. Beef prices continue to move higher. The CME Beef Index compared to a week ago gained $7.39. Strength in beef this time of year is normal.
PORK COMPLEX
Spec traders moved lean hogs Thursday giving the market a swing day up and down. Volume remains light. The cash daily pork market on the morning sales was higher with loins bouncing off Wednesday’s low price and hams were higher. Bellies were up 5.65 the main reason the daily cutout was higher.
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