Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
July, August and October Lean Hogs made new contract highs Monday. Monday, sellers were selling the April Lean Hog premium. The CME Lean Hog Index is $6.01 under April. With about a month and a half before April expires, there is a lot of time for speculators to widen the spread or narrow it.
LIVE CATTLE
February Live Cattle went off the board at $184.00. Cash prices last week were $183.00 to $184.00. There were a couple small groups that sold for $185.00 and $186.00. Friday packers bought cattle mostly for $183.00. Dressed prices were $290.00. With depleting numbers in Texas because of droughts, the fire is adding insult to injury to cattle herds.
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