Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume was moderate Wednesday. GLOBEX volume on April live cattle was 33,717. The February/April live cattle bear spread widened. Trading was active on the April live cattle/April lean hog spread, likely profit taking.
PORK COMPLEX
The February/April lean hog spread is wide and it is bearish. Nothing on the last Hogs and Pigs report indicates markets should gain as much as the spread.
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