Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Friday appeared to be a wreck for live cattle, but far from it. On Friday, February 21st April live cattle settled at $193.95. On February 28th it settled at $192.65, for the week down $1.30. The April/June spread on February 21st was plus $3.62. On February 28th the spread settled at $3.87 with the bull spread widening. Also the April live cattle/April lean hog spread during the week had cattle gaining on hogs from February 21st at $106.27 to February 28th at $108.97
PORK COMPLEX
For the week slaughter was up 16,000 head compared to a week ago but down 40,946 compared to the same period a year ago. Year to date slaughter is down 1,142,611 head.
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