Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Monday saw live cattle and feeder cattle plunge lower on formula trading and reverse within a couple seconds. Futures remained lower except for August but well off the extreme lows of the open by the end of the day. Trade volume was moderate Monday. This week, August will be going off the board and there will be end of the month liquidation.
PORK COMPLEX
Lean hog trade volume was light Monday. August is off the board and October is the lead month. It is deeply discounted to the CME Lean Hog Index by $16.54. The June 2o25 hogs and pigs report estimates 1% more hogs but on the other hand, analysts predict increased pork consumption because of high beef prices.
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