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Light Volume For Lean Hogs

LIVESTOCK AM OUTLOOK

Because nothing usually happens in the cash cattle market on Monday, technical trading made up the daily volume.  The Cattle On Feed Report was in line with expectations so it didn’t give the market any fundamental news to shake it loose.

Supply is very tight on lightweight feeders and when they do show up there is good active bidding on them.

April hogs higher Monday settling at $95.05, and it is $3.34 above the current CME Lean Hog Index.  June Lean Hogs fell early to within 2 cents of limit down. Although it was lower on the day, it remained above all moving averages by the close on Monday. Volume was light.

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