Cattle on Feed Report Was Friendly
MORNING LIVESTOCK OUTLOOK
Live Cattle are in a push and pull direction. The Cattle on Feed Report was friendly but boxed beef has been steadily going down. Bulls want to buy the COF report and bears want to sell the negative beef prices with traders looking for price improvement when cattle numbers significantly drop.
Lean Hog futures volume was light Wednesday. There has been a very slight change in spreads, but bear spreads continue to remain very wide. It is too early to say, but the change in spreads could indicate traders are liquidating and doing it without trying to move markets.
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