Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Tuesday morning reports talk about a woman that died because of Mad Cow Disease in Michigan. The name could incite fear along with Avian Flu if more reports take off with it. But it wasn’t the only report. Cattle prices have been breaking since the recent high was made on February 14th before avian flu was found in dairy cattle. There are also reports that the lower inventory of cattle are taking down earnings of packers. Cattle prices are high. Beef prices are high.
LEAN HOGS
June, July, August, and October Lean Hogs made new contract highs Mon, April 1 2024. The previous contract high for June 2024 Lean Hogs was $104.95 made on Dec 14, 2022 the day it opened for trading. Lean Hogs opened lower and then reversed sending summer and October hogs to contract highs. Pork prices on the morning daily sales were also higher due to a big jump in belly prices up $31.71. Pork sales have been light.
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