Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle and Feeder Cattle trade volume was light Wednesday which should be expected. Boxed beef is up but other than April Live Cattle, movement on the beef market may or may not affect futures. Friday markets are closed so there are traders taking a break from trading and will come back on Monday when April has first notice day.
LEAN HOGS
The pork market dropping and the increasing hog slaughter compared to a year ago has hogs and pork going down. Add to it the poor packer margins and increasing world supplies, it is easy to why futures are moving down and spread traders are bear spread. Fortunately, pork exports have been good but pork exports depend on Mexico.
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