Written Commentary
MORNING LIVESTOCK OUTLOOK
Big cattle placement number at 9% is above February 2021 and it is 2.7% above the average estimate at 106.3%. The largest group of placements were feeders weighing 700 to 799 pounds at 505,000 head followed by placements at 800 to 899 pounds at 468,000 head. The big placement number is bearish. Feeder Cattle have been dropping since the second week of February.
April hogs closed up $4.70 on Friday, 5 cents off the limit. Load movement was light.
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