Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Monday’s trading was expected. April 2024 Live Cattle traded the cash market. At this time it is normal to have futures $2.00 to $3.00 above the cash market. Beef prices have been steadily falling and demand is for cheaper beef. For week ending April 19, 2024 cattle slaughter increased over the previous week by 17,000 head.
LEAN HOGS
The pork market can’t lose the ham trade for exports. The spring and summer are not a time in the US when hams sell. Butts, picnics, and ribs are popular restaurant items and are exported products but don’t move markets like hams and loins. Loins run into resistance when around $100.
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