Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
There were a handful of cattle sold Thursday at $213.00 in the Midwest and at $2.08 in Kansas. This is $2.00 lower than last week. With the rise in beef prices feedlots are holding out for $2.00 more. Packers will be buying cash cattle this week for the first week of April.
PORK COMPLEX
Although the analysts pre-report estimates were looking for more than the actual numbers, the report is mostly neutral. Lean Hog futures on Friday could start out better, and moving up $1.00 to $2.00 to the upper recent range. In the long run, prices ahead will depend on pork demand and possible tariffs on U.S. pork on April 2nd.
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