Live Cattle futures spreads:
- The June-August closed April at $4.35, a bullish read compared to the previous 5-year range
- $0.725 stronger than the end of March
- The August-October closed April at $2.10, a bullish read compared to the previous 5-year range
- $0.85 stronger than the end of March
- The bottom line is there was continued commercial support across the board in live cattle last month
Feeder Cattle futures spreads:
- The May-August closed April at (-$2.45), a bullish read compared to the previous 5-year range
- and $2.55 stronger than the end of March
- the previous 5-year high weekly close for the end of April is (-$8.95)
- The bottom line is the feeder cattle market continued to see solid support from commercial buying during April
Lean Hogs futures spreads:
- The June-August closed April at $1.125, a neutral-to-bullish read compared to the previous 5-year range
- $1.15 stronger than the end of March
- The August-October closed April at $15.05, a neutral-to-bullish read compared to the previous 5-year range
- $0.95 stronger than the end of March
- The bottom line is commercial buying also supported lean hogs last month
