Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
From the consumer shopping for the family to going to restaurants food costs remain high with yesterday’s inflation report up 3.5% driving down the stock market. When Live Cattle were closing Wednesday the DJI was down close to 500 points. In March the price of meats, poultry, fish and eggs rose 1.3% in March with eggs up 4.6% increase last month. From January 2021 to March 2024 ground beef and sirloin steak is up from $1.16 $2.39.
April Lean Hogs settled Wednesday at $91.75 and the CME Lean Hog Index is $87.88 with the Index two days behind cash prices. Cash prices have been moving up.
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