Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Technical traders dropped futures on Monday to the 10 day moving average and it bounced off it and ended the day slightly lower. Trade volume was light.
Traders are waiting until April 2nd when the tariffs from the US are to be “officially” announced and what countries use as retaliatory tariffs. With the rise in beef prices during March, there are traders that feel the move higher were countries buying US beef and pork ahead of tariffs.
PORK COMPLEX
Volume was light Monday. Funds will be allocating positions sometime in early April and fundamental traders are waiting to see what happens April 2nd the official start of the tariff wars. There was very little change in hog prices and pork prices in march. For pork it will mostly be what Mexico decides for what they decided to place tariffs in US Pork imports. They know placing tariffs on US pork and corn would be vulnerable.
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