Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Grocery store associations report ground beef is fastest growing meat product.
The increase open interest on Live Cattle is one of the best indicators now for price direction especially as traders are bull spreading and cattle are gaining on hogs.
PORK COMPLEX
For a post report day, trade volume on Friday was light. With very little change on the report there wasn’t much to move futures. Futures opened higher and ended mixed.
Traders are waiting to see what happens April 2nd the official start of the tariff wars. Again China was absent buying pork although they claim they are going to increase purchases to meet past quota’s from when President Trump was in office the 1st time.
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