Written Commentary
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.
Hungry little pigs in pigsty.
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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