Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Futures trade volume was moderately active Friday as futures moved back near where they settled a week ago. April Live Cattle closed up 55 cents and June was up 12 cents. Spec traders took control and bounced futures like kids on a seesaw. The fires in Texas are the largest wildfires in Texas history. There are 1000s of dead cattle.
LEAN HOGS
April Lean Hogs are $7.92 over the CME Lean Hog Index. New contract highs were made for July, August and October Lean Hogs on Thursday. July and August are oversold. June is $21.90 to the current CME Lean Hog Index and $13.97 over April.
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