Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
There was a reversal on live cattle/lean hog spreads . The August spread made a new high early and reversed on the late trading. It has been a very active spread and traders are expecting fewer hogs, and changes in tariffs with the UK and China to increase pork demand.
PORK COMPLEX
Except for May, lean hogs were lower Wednesday on moderate volume. May futures have converge with cash and June is $8.54 over the CME Lean Hog Index. There are traders that expect better pork prices in June with the 90 day tariff hold with China and anticipated increasing sales to the UK.
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