Trading Was Moderate Tuesday
MORNING LIVESTOCK OUTLOOK
Trading in cattle futures was moderate Tuesday. Traders were a bit disappointed that placements were above expectations and just as importantly, many traders are sidelined waiting to come back into the market after the first of the year. Beef prices will steady out into 2023 after the holidays and on a steady kill schedule.
As expected Lean Hog futures Tuesday were bull spreading Feb/April and barely trading hogs from June on out. Reports indicate traders were surprised to have farrowing intentions steady to up from a year ago.
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