Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Volume was light Wednesday. Traders are rolling out of June. Reports that claim more people will be infected are ominous. With futures discount to cash, normally it would indicate buying. Now in a non-spot month it indicates caution. However, traders remain optimistic and are bull spreading the summer months of June and August. For October through 2025 traders are bear spread.
LEAN HOGS
The daily pork price sheet has been bouncing this week because of moves in loins and bellies. It was up on morning sales $2.70 and closed on Tuesday down $2.41. Loins on Monday were $99.50, then dropped to $97.09 Tuesday and were up Wednesday at $99.79.
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