Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle rallied Thursday. It could have been on cattle deliveries, or the decent exports although exports were down from last week. April Live Cattle moved up to an island gap left from November 2nd and 3rd from $187.30 to 187.55 getting up to a high of $187.47 but could move above and traders liquidated with April closing at $186.57. At the same time, on the downside they stayed above the 5 day moving average.
LEAN HOGS
Pork prices were up Thursday essentially adding back the loss on the daily carcass price that was lost Wednesday. However, on daily prices loins were up $3.42 and Ham price was up $6.05. Movement was light with a total of 229.38 loads of pork primals. For the week the 5 day carcass average is down $1.91.
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