Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Trade volume was light Monday. Speculative traders are far more active in August now. June volume was 14,798 and august GLOBEX volume was 22,776. With June 10th first notice day, there is a lot of time for June live cattle to near convergence with whatever cash is at the time. With Memorial Day a week away, and the Cattle on Feed Report on Friday trade volume is likely to be light this week.
LEAN HOGS
Last week lean hogs traded lower as June and August were losing their premium prices to cash hogs. At the same time spread traders were selling lean hogs and buying live cattle.
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