Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Tuesday for both cattle and hogs traders were finishing up funds rolling from December to mostly February. Open interest is now larger in February showing most large spec traders have moved out of December. Total open interest has been decreasing.
PORK COMPLEX
Pork prices starting to move lower. The spread between pork and hogs is still favorable to packers at $11.02. Need to watch going forward. Traders have moved to February with Feb having now largest open interest. Feb is 4.22 over December.
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