Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
The June live cattle/June lean hog spread ended April with June cattle $110.12 over June lean hogs. Also, may is starting out with cash cattle prices $4.00 and a few cattle $8.00 higher. Cattle weights are also starting to move lower.
With the light slaughter packer profits drop due to fixed expenses.
PORK COMPLEX
Thursday pork ribs must have had cancellations. On morning sales pork ribs were down $15.15. And later sales were down 9.87. When China bought from the US ribs were a large portion of their buy. When international imports and exports are posted for march on May 7th the tariffs between the US and China will begin to show.
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