Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
When comparing prices on the close Thursday, they are close to where prices were last Friday. Did the Live Cattle market tumble Thursday? It tumbled for traders long cattle but in reality, it just erased trading Monday through Wednesday. Beef prices are being blamed for one of the reasons inflation at the grocery store remain high.
LEAN HOGS
Trade volume in hogs was very light Thursday, Livestock traders moved into Live Cattle. The good cash hog market and pork prices moving higher aren’t negative, but with large speculators rolling out of April, it appears fewer at this time are rolling into June or beyond because of the large premiums of the front months. Slaughter is dropping. Weights aren’t going up. Cash hog prices are steadily moving up.
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