Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Marketings of fed cattle during March totaled 1.98 million head, 1 percent below 2022. Other disappearance totaled 53,000 head during March, unchanged from 2022.
It is possible traders could be disappointed that placements were more than anticipated especially in Texas up 5% and Nebraska unchanged. On the other side of the coin Kansas was down 5% with Iowa down just 1 percent.
LEAN HOGS
For the week there was an uptick on the daily pork carcass price. The gains were due to higher prices for Butts and Bellies. What pork needs is to have Loins and Hams move higher or to have substantial large gains on Butts, Picnics, Ribs and Bellies. It is hard to rally pork with cheap loins and hams.
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