Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
Lean Hogs
Lean hog trade volume was light Tuesday and before Thursday’s Hogs and Pigs report, it probably will remain light until Monday April 3rd when traders are back after Easter. April Lean Hogs were down $1.07 to $77.55 and with the latest CME Lean Hog Index at $76.57, it is close enough to parity. Most speculators are out of April as open interest dwindles down.
Live Cattle
Compared to last week, Steers and Heifers under 700 lbs sold uneven from steady to 5.00 lower, to 2.00 to 6.00 higher. Over 700 lbs sold mostly steady to 3.00 lower to instances 5.00 higher. The market was the most active on light weight cattle.
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