Written Commentary
MORNING LIVESTOCK OUTLOOK
Live Cattle futures had moderately active volume Monday. Traders are buying Live Cattle. After the light turndown last week, Live Cattle aren’t overbought and have room to move higher. Spreaders have been bull spreading cattle along with buying cattle and selling hogs.
Pork prices starting out Monday slightly higher . Pork movement has been light and with negative margins, packers aren’t going to try to increase slaughter. All primal cuts were higher on morning sales except Picnics. Hog weights increased throughout last week.
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