Written Commentary
MORNING LIVESTOCK OUTLOOK
Strong close up on Live Cattle futures Wed. The last time April Cattle closed as high was Feb 24th. Demand for lower priced beef cuts all the way down to cow beef and beef imports should remain strong. The fast food industry is about to raise prices for the third time in a year.
Hogs dropped on Wed but didn’t do damage to charts. June hogs filled a gap from 118.70 to $118.60 and closed at $118.75. July hogs dropped to the 10 day moving average. Dec hogs on light volume fell to the 10 day average.
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