Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
USDA announces phased reopening of Mexican cattle imports after screwworm closure.
Remember July has no contract for live cattle or feeder cattle. Speculators will control the market even more than they do now.
PORK COMPLEX
The difference between the CME Lean Hog Index and the CME Pork Index has been narrowing, packers won’t buy any more than they need. They are satisfying contracted pork orders and offer just enough pork for daily buyers.
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