Hogs: Bulls are still in control of this market for now. Wholesale beef has waffled up and down in the past two weeks enough to make both bulls and bears think they’re on target. One thing we find interesting is that futures have been trading at a discount to cash hogs since the start of the month. That does make sense as October 14, the day futures expire, will have more pork production than current.
Cattle: COF report, take a look at the morning Livestock Fundamentals page of this report (the Advisory Report).
Rich Nelson is Director of Research at Allendale, Inc. in McHenry, IL. Allendale is registered with the CFTC and NFA and is a member of the NIBA. www.allendale-inc.com