Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live cattle futures were lower on light to moderate volume. For the week cattle were lower with June live cattle down $1.05 and august cattle down on the week .55. October live cattle for the week were down .30. Live cattle spreads changed little for the week and remain bull spread.
As weather warms, more new world screw worms will hatch and the possibility of crossing the border increases. So far, Mexico and other central American countries haven’t eradicated the fly.
LEAN HOG COMPLEX
There was little change on lean hog futures over the week. With the CME Pork Cutout only at 6.92 to the CME Lean Hog Index, packers remain in the red. .
Hog weights dropping 1 pound show hogs are current and packers taking all the hogs that are ready. It is friendly.
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