No ligament damage in Matt Cain’s elbow, but he’s dealing with “loose bodies”

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This is pretty much a good news/bad news situation for the Giants, but Andrew Baggarly of CSNBayArea.com has an update on Matt Cain’s elbow:

So no Tommy John surgery for Matt Cain, which is good, but it sounds like a cleanup-surgery could be in his future no matter what. In other words, he might not pitch for the Giants again anytime soon. We should know more on his status in the next couple of days, but that Jake Peavy insurance policy is looking pretty smart right now.