Moderate Volume For Lean Hogs
LIVESTOCK AM OUTLOOK
Boxed beef prices have been rapidly going down. As I pointed out in an early report, if it wasn’t for Choice primal rib sections, the Choice cumulative boxed beef price would be much lower and the wide spread between Choice and Select boxed beef would be much narrower.
Lean Hog futures had the bounce that was going to happen any time. However, volume was just moderate. Most funds are out of October and funds are now spreading December 2021 into 2022 contracts. October Lean Hogs are now within 9.88 of the CME Lean hog Index with close to a month before October Lean Hogs expire. The CME Index has been dropped as the October rallied on Thursday.
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