Live Cattle:
After a
solid week of commercial buying has sparked a rally in the futures
market, live cattle contracts are mixed midday Friday. However,
commercial buying continues to be seen, indicated by action in the
futures spreads. If this holds through the close it could possibly carry
over into early next week's trade.
Feeder Cattle:
Commercial buying is also supporting feeder
cattle at midday, helping to extend this week's gains. Some of this
buying could be tied to the corn market, though the latter has
stabilized at midday. If feeders can stay strong through the close it
could be enough to pull deferred live cattle contracts higher as well
Lean Hogs:
Lean hogs are lower midday Friday, pressured by a
light round of noncommercial selling. Commercial interests as a whole
have moved to the sidelines, indicated by mixed futures spreads. Some of
the noncommercial pressure could be tied to outside markets, most
notably the nearly 400-point sell-off by the Dow Jones Industrial
Average.
No comments:
Post a Comment