Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live Cattle trading was light Monday. Spreads doing little. Boxed beef started out the week higher with choice up $2.10 and like the futures, load movement was extremely light with just 87 total loads. Slaughter is starting out the week with 10,000 more head than they did a week ago,
PORK COMPLEX
Monday Lean Hog trading was lower with active bear spreading from December through April. December dropped to the 20 day moving average while months in front drop to or slightly below the 10 day moving average. Volume was moderate. Pork on the daily market was up 50 cents and the 5 day carcass average was off 22 cents. Pork prices have been very slowly drifting lower.
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