Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Open interest has been going sideways. Traders don’t see a clear direction and aren’t initiating new contracts.
Wildfires are expected to worsen over the week with low humidity, strong winds, higher than normal temperatures and excessively dry areas .feeders are being into feedlots.
Rising gas prices and diesel prices adding to the price of beef.
LEAN HOG COMPLEX
April 2026 lean hogs settled on march 23, 2026 $90.80. April 2026 lean hog futures are $1.05 under the CME Lean Hog Index.
As packer margins go down, they will start to fight buying hogs higher. Exports need to remain up which will be difficult to achieve with big global supplies.
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