Lean Hog Trading Was Active
MORNING LIVESTOCK OUTLOOK
Lean Hog trading on Monday was active. April 2023 Lean Hogs at $82.72, the lowest close since December 27, 2021. Speculators were spreading, selling April Hogs and buying outer months along with buying cattle and selling hogs. The April Lean Hog/June Lean Hog closed at minus 17.82, a tick off the widest the spread has been.
Trading on Monday was moderate with Live Cattle making new contract high closes. Choice boxed beef was up $1.83 and Select was up $2.11, narrowing the Choice to Select beef spread. Choice was up with primal loins gaining $6.80. There was also big movement of ground beef.
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