In the livestock sector, fundamentals still rule the day, with the markets trading this week in anticipation of the latest cattle on feed report.
Other inventory numbers released Friday showed the number of cattle on feed as of May 1 at 103 percent of year-ago levels. The number of cattle marketed in April was 95 percent of last year.
The trade was expecting the increase in placements following a slow winter of feedlot activity. Analysts also anticipate many of the cattle coming to the lots are of the big variety -- 800 pounds or more.
With the inventory of fall calves getting larger, and with the quality of the crop running high, some warnings are being sounded on prices during autumn delivery.