Written Commentary
MORNING LIVESTOCK OUTLOOK
Before next week’s COF report find strategies to protect the possibility of Live Cattle futures moving higher. June 6th is first notice day for June 2022 Live Cattle. The average cash steer price for this week was around $142.00. In three weeks anything can happen. Cash cattle could move up the futures and cash spread. It is likely to see futures move closer to cash.
Trading in Lean Hogs on Monday was fairly light. There is still some rolling taking place as large specs get out of June, spreaders bought hogs and sold live cattle. Expect slow trading this week unless there is a surprise on exports on Thursday with a lot of buying. June lean hogs are now trading about $4 over the CME Lean Hog Index.
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