Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
This week could be called the Week of Not Much Change. There wasn’t much change in futures, or beef prices from a week ago. Packers did pay higher for cash cattle about $1.00 higher. Midwest cattle averaged $186.50 to $187.00 with a few head at $188.00 and dressed prices mostly $295.00. In Texas on a light buy of a total negotiated head of 3,991 cash was $184.00 and in Kansas prices average $184.50. Heavier cattle are moving in the Midwest but in the Southwest weights are lighter.
LEAN HOGS
Lean Hog trading was light to moderate over the week. For the few contracts on May lean Hogs, futures dropped to be closer to cash hogs. Other traders were rolling out of June moving to mostly August and also selling summer July and August and buying October on out, bear spreading.
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