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Cattle on Feed Report This Afternoon

LIVESTOCK AM OUTLOOK

Technical reversals on cattle Thursday, not quite key reversals, outside day down. Support levels held on 20 day moving averages. Volume was active with June trading 34,680 contracts. Possible profit taking ahead of Cattle on Feed Report this afternoon.

It is too early to say if lean hogs topped Thursday. It could simply be profit taking.  Pork was up Thursday with the carcass for the day gaining $6.00 but on very light daily movement of 244 loads, not even 10% of the hogs killed.

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