Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle futures slowed down Thursday and volume was moderate. April remains below the cash market and June is bull spread to August at $2.52 under. From last Friday’s settlement June is $4.40 lower. Charts have turned negative. With boxed beef prices tumbling and the Choice to Select beef spread narrowing the trend is lower.
LEAN HOGS
Trade volume was light Thursday. August, and October Lean Hogs made new contract highs for the fourth day. June Lean Hogs made a new contract high close but failed to trade above Wednesday’s high. July Lean Hogs have a double top at 107.42. August closed on a new high. June the most active contract for the week is up from last Friday $2.17.
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