Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live Cattle trade volume on Wednesday was once again heavy. June live cattle volume was 52,496 and October volume was 44,197 with December at 23,881. The funds are rolling. Futures made new contract highs but unlike Tuesday, traders were also taking profits.
President trump has placed a 50% tariff on Brazil. From January 2025 – May 2025 Brazil was the largest exporter of beef to the US.
PORK COMPLEX
Cash hogs and pork prices continue to slide. There has been one day since the July 4th break when slaughter wasn’t revised down. Packers are only going to kill enough hogs to fill previously contracted pork orders and the small amount of pork for the daily market.
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