Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Placements were large at 3.6% above the estimates. Even the cattle on the on feed as of March 1st was slightly above the estimate.
The strong demand for current cash cattle and higher prices paid this week likely do to the beef needs for next week’s Easter Holiday. Monday morning April could lose $1.50 to $2.50. June and August are already discounted but with big placements look for possible loss of $1.50 to $2.00
LEAN HOGS
There wasn’t much difference on the 5 day pork cutout average on Friday’s sales. Between Friday March 15th and March 22nd, the 5 day average was down 10 cents. The movement on daily sales has become so light, and daily fluctuations on various primal sections can be extreme that monitoring daily price movement is frivolous. Pork is competing with beef at the super market. There is a strong possibility if beef prices drop on the retail level, so will pork.
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