Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle trade volume was light Tues and lighter on Wed. Traders are waiting for cash prices and for the Cattle and Feed report. Hedgers and speculators have concerns about the packers working fewer hours, what consumers will do as beef prices rise will there or won’t there be a seasonal demand for beef this spring and summer, will there be an increase in the number of cattle sooner than later, should they buy at current levels or sell or is the easiest trade to do nothing.
LEAN HOGS
April and June hogs settled on the 20 day moving average. The last time they settled below it was February 12th. Packers are making money and when it comes down to it, when profits are positive they will push hogs through the kill. But it is noticeable, they keep the movement on daily pork sales at levels that are low.
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