Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
It was bound to happen to have a day down in Lean Hogs especially for June through August Lean Hogs. July and August had moved several times to new contract highs over the last month and the spread between April and June was wide. On March 11th April was $17.82 under June. Trade volume was moderate Tuesday. The lows made on Lean Hogs Tuesday are now first support levels.
LIVE CATTLE
Live Cattle trade volume was very light Tuesday. The trade range for April Live Cattle was $1.02, but from June on out the range was within $1.00. There was also some bear spreading. With the Cattle on Feed report on Friday, look for slow trade the remainder of the week.
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