Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Trade volume was light to moderate Monday as long traders and spread traders took in profits with Live Cattle into being slightly oversold. Since the close the day before the March COF report on March 21st June Live Cattle through Friday April 5 fell $12.45 in 10 trading days and June Live Cattle/June Lean Hog spread had cattle losing 21.05 to hogs during the same period.
LEAN HOGS
Lean Hog trade volume on Monday was moderately active on June but light on other months. The spread between April and June Lean Hogs is wide at 18.17. April Lean Hogs settled Monday at $89.75 and the CME Lean Hog Index is $86.31 but Index is two days behind.
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