Written Commentary
MORNING LIVESTOCK OUTLOOK
LEAN HOGS
Hog prices fell again Monday adding to the declines of last week. April hogs the leader of the pack settled at $77.77. Compared to the latest CME Lean Hog Index, it is $2.35 under and with close to a month before April expires, it isn’t out of line.
LIVE CATTLE
As of Monday morning the difference between Choice and Select Rib and Loin primals is very narrow. When broken down to price per pound, it puts it in perspective. The difference between Choice and Select Rib primals are just fractions of a cent more than .36 cents/pound and the difference for Loins is a little more than 19 cents/pound.
COF report friendly for feeder cattle. Feeder numbers are down. It is that simple. But with months ahead at big premiums, rallies will be hard.
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