Written Commentary
MORNING LIVESTOCK OUTLOOK
LIVE CATTLE
Dow futures were higher Thurs bringing Live Cattle off Wed lows. June Live Cattle closed up .30 cents. Technically, it was an inside day up and traded within Wednesday’s range. For the week June is down $1.77. Cash prices are weaker this week. Exports were up for week ending March 9, 2024 Net export sales were 17,700 MT.
LEAN HOGS
Lean Hogs took a nose dive Wed and then Thurs June 2023 and July 2023 dropped the limit of $4.75 with August 7 cents off the limit. December and February 2023 continue to bear spread. The drop in hogs has been expected.
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