Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Feedlots are expecting higher prices this week regaining back part off the lower prices of the past two weeks. Last week boxed beef prices retreated from the higher prices of a week ago. As of April 11th compared to April 4th the cumulative choice beef price was down $4.23 and select was off $3.22.
PORK COMPLEX
Trade volume was moderately active Wednesday. Trading consisted of bull spreads Hog slaughter last week was down 22,000 hogs. Compared to the same period a year ago it was up 10,514 hogs. Year to date it is down 1,102,951 hogs. Last week the 5 day pork carcass average price was down $2.72 and down $3.76 compared to 2 weeks ago.
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