Cattle & Hog Prices Mixed
Meat Futures--- Live cattle futures this afternoon in Chicago are down another 52 points in the August contract currently trading at 116.55 looking at possibly breaking new lows near 114 a pound while feeder cattle prices for the August contract are basically unchanged for the trading session 152.70 dropping around 800 points in the last couple of weeks right at fresh eight week lows on pessimism of a lack of demand and an outright bloodbath in the commodity markets today. Lean hog futures which have been doing very well right near 8 week highs are down only 10 points at 92.05 in the August contract. The commodity markets today were sharply lower in a mass liquidation pushing crude oil futures to new yearly lower lows as well as the stock market and the metals markets both sharply lower across the board an outright pessimistic view of the economies throughout the world since the Federal Reserve yesterday lowered their GDP forecast here in the United States causing liquidation of all assets in the last couple of days. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.
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