Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle futures were a pogo stick Tuesday, up, down, up, down throughout the trading day. December Live Cattle had a $4.12 range to settle December up 27 cents. October was higher moving closer to cash with October 31st the last trading day. Boxed beef was higher Tuesday morning on light sales of 48 total loads with Choice on 24 loads up $1.21 with Choice Rib primals down over $22.00, Loins up $17.50.
Pork fell Tuesday morning and the CME Pork Index to the CME Lean Hog Index narrowed. Weights have been moving up as kill is up. Loins on the on the 5 day average were at $90.51 and on the daily morning sales were at $89.51 and hams on the 5 day average were $80.74 and the daily morning price at $81.44.
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