Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Thursday Live Cattle trade volume was moderately active. Has a top been put in cattle? The reality of the cattle market is packers are fighting over the few showlist cattle but the majority of cattle moved on various forms of contracts, fed directly for a packer feeding program or outright owned by a packer. Day after day boxed beef prices are skyrocketing lead by Choice primal rib primals simply because the amount of Choice rib primals are scarce but so are other primal sections.
LEAN HOGS
El Nino has officially returned and is likely to yield extreme weather later this year, from tropical cyclones spinning toward vulnerable Pacific islands to heavy rainfall in South America to drought in Australia and in some parts of Asia.
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