Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
The CME lean Hog Index narrowed to $9.76 Thursday. Pork exports were less than half of the previous week and a marketing year low. The US is killing more hogs and to have pork stronger than the price of hogs and to have exports taking more pork, it would be negative if it reverses.
LIVE CATTLE
April Live Cattle settled Thursday at $181.17 The 5 day accumulated weighted steer price as of April 18th was $183.89. There have no deliveries for April 2024 Live Cattle. As of February beef imports into the U.S. were up 24% compared to 2023
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