Written Commentary
MORNING LIVESTOCK OUTLOOK
Over the past 4 weeks the difference in prices for heavier high grading cattle has been clearly evident. For the feedlot that overlooks the high price of feed and keeps cattle to heavier weights, packers are willing to pay premiums.
June hogs dropped to the 50 day moving average at $115.00 on Tuesday on light volume. On March 30th, the day before the hogs and pigs report, June hogs settled at $124.22. The day after June gapped higher on the open and reversed with a picture perfect key reversal. January 13th was the last time June hogs touch the 50 day moving average.
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