Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
For the 3rd day in a row June, July, August, and October Lean Hogs made new contract highs on April 3, 2024. February 2025 Lean Hogs also made a contract high. Packers margins remain good. The difference between the Lean Hog Index and the Pork Index has remained above $10.00. It may begin to narrow.
LIVE CATTLE
Beef prices are high and for people and families living pay check to pay check beef is too high. Consumers have talked about high beef prices since the short slaughter days during the COVID outbreak. The current short supply of cattle is one part of the equation for higher cattle prices. With the volatility of daily futures price moves there are 3 days until first notice day, and a lot of time for cash and futures to narrow the cash/futures spread.
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