Written Commentary
MORNING LIVESTOCK OUTLOOK
Quiet day for Live Cattle trading Thursday – much to be expected before the Cattle on Feed Report. Boxed Beef movement was also slow. Even if the Cattle on Feed report is bullish with consumers buying less beef, cattle prices could continue moving cattle lower.
Lean hogs were lower Thursday on very light volume trading. June settled at $105.30. The recent CME Index as of May 17th is $100.08. With June Lean Hog expiration 4 plus weeks away the difference between cash and futures isn’t out of line.
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