Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
There are days like the last 3 Tuesdays when it is obvious speculators cause some daily volatility. However, with the higher cash cattle price and June futures below cash, trying to move futures lower comes up against the strength of longs.
Cheaper feed costs are benefiting the feedlot producer. They are keeping cattle on feed longer and compared to a year ago weights average 35 pounds heavier than a year ago.
PORK COMPLEX
The CME Lean Hog Index, the CME Pork Cutout and the 5 day daily pork carcass price continue to move higher. Last week, hog slaughter weights were down 1 pound from the previous week. Hogs are current. Packer profits are positive. Exports have begun to increase. The US is not the only country with high beef prices. Global consumption for pork will increase in 2025 .
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