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Cattle Traders Continue to Bear Spread

MORNING LIVESTOCK FUTURES OUTLOOK

LIVE CATTLE

Live cattle traders continue to bear spread.  Trade volume was active. It is likely funds re-entered trading Monday with the new allocations for first full trading week of the 3rd quarter and funds that allocate the  2nd half of the year.  July is a non-spot  futures month and funds use it to their advantage, especially when hedgers retain positions.

 

 

LEAN HOGS

Spread traders  are moving lean hogs.  Funds are big  spread traders.  Past years have shown spreads from august through December  they become increasingly active.   When index  and equity funds roll , they are selling august and buying October,  the algorithmic funds  often take advantage and buy October and sell December.  There are 4 months from now until October expires giving funds a lot of time.

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