Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
Live Cattle
Packers will be buying this week for cattle delivered next week, the first week of April and will be pulling in their own cattle and contracted cattle. Last week’s slaughter was light at 626,000, down 5000 head from the previous week. Cattle were also lighter at least cattle bought on the showlists. This week will also be a lighter slaughter. Packers will be killing on Friday, Good Friday, but as usually is the case on Easter weekend, there will be fewer people showing up. Saturday, slaughter should be very light.
Lean Hogs
Lean hog trade volume was very light Wed with traders spreading, selling June and buying months after it as well as outright selling futures. April settled at $76.77 with the latest CME Lean Hog Index at $76.25. Before Thursday’s Hogs and Pigs report, trading will remain light until Monday April 3rd when traders are back after Easter.
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