Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume was a little better Thursday but it was still light. Trouble is that traders can’t decide if cattle are bullish or bearish.
It doesn’t look like all the cattle that would have gone to JBS in Greeley have other packers to go. Unless packers decide to jump up Saturday’s kill, it will be a light kill this week.
chart provided by eSignal Interactive
LEAN HOG COMPLEX
The pork market is running into resistance at current levels. Packers may decide to kill fewer hogs. Packers do have an advantage know the amount of pork needed to fill contracts. Pork sales often slow into April and May, if pork contracts are fewer, they won’t push kill.
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