Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live cattle traders were bull spreading Tuesday and the cattle/hog spread had cattle gaining over hogs. Both are positive for cattle.
China is slowing both pork and beef imports using the US tariff and outright slowing imports from other countries. US. falls into China’s plans to limit exported beef and pork.
PORK COMPLEX
Canada and China placed tariffs on pork. On Sunday Mexico will announce retaliatory tariffs and will announce tariffs. Since Mexico is the largest buyer of US pork, unless an agreement has been made between now and then expect 25% or larger tariffs.
Last year Mexico bought 1,154,989 mt far surpassing any country.
China was second buyer with 467,227 mt down 6% 9n 2024
Canada bought 212,439 mt was 5th buyer down 3% in 2024
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