MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live Cattle trade volume was light to moderate Wednesday. Spread traders were bear spreading from December out and buying cattle and selling hogs. December volume was 20,310 contracts and February was just 9,394 contracts. Boxed beef continues to move higher.
PORK COMPLEX
More hogs are moving in North Carolina. North Carolina is the third largest hog producing state with several of the largest corporate “factory” farms in the US. Many farms are located where hurricane Helene damaged county roads. Roads are mostly open but 2 lane roads are in many areas cleared to 1 lane. Last week the CME Pork Cutout was up $1.36 compared to a week ago. The 5 day daily pork carcass price was up 68 cents. The CME Lean Hog Index up 73 cents.
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