Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
April Live Cattle settled higher Monday at $180.30 as futures moved nearer to cash. Last week cash cattle in the Southwest averaged $181.85 and in the Midwest cattle averaged $184.00. The 5 day accumulated weighted steer price as of April 15th was $184.00. For the month there haven’t been any deliveries. Friday, the April/June Live Cattle spread closed with June under April by $7.42. Monday the spread narrowed with June $6.47 under April.
LEAN HOGS
April Lean Hogs settled on Friday at $90.87. The spread between April and June closed at $11.20 on Friday with June over April. Exports have been strong and have helped to offset the increase of hogs in 2024. Going forward, traders will be monitoring exports especially looking for any decreases.
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