Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
August Live Cattle settled Tuesday at $178.05. The 5 day average negotiated steer price is $184.91. There have been no deliveries for August Live Cattle. A few cattle were sold in Iowa/MN on Wednesday. Steer prices at 185.00 with a couple loads of heifers at 186.00. Dressed price was 292.00 on light sales. Movement wasn’t big. Looks like feedlots starting to move cattle in the grain/feeder feedlots as producers start moving cattle and cleaning lots before harvest. Weights were not heavy.
LEAN HOGS
December, February, and April Lean Hogs dropped into prices made on Mon, May 30th the day after hogs bottomed on May 26th. Pork prices are falling and fast. A week ago the daily pork carcass price was 107.27. Wednesday it was down to 100.79. A week ago the 5 day pork carcass was 109.61 and now at 104.72. A week ago bellies on the 5 day average was 201.95 and now 184.12. Hams are down 7.82 with the 5 day average at 89.54 and the daily price at 84.71.
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