Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Traders will be wondering if China takes more beef and any positive or negative talk about it is likely to move cattle futures.
It is difficult to say how the market will react Tuesday with the break in prices ahead of the COF report and what beef price will do with the Memorial Day push over. Not many heavy cattle were placed so don’t expect to see slaughter increase in June or July.
LEAN HOG COMPLEX
June 2026 lean hog futures are $4.68 over the CME Lean Hog Index.
The breeding sow herd in China for 2025 was projected at 39.61 million head, down 2.9% from 2024. China purposely has reduced sows because there were too many hogs and prices dropped. They also put a 55% tariff on beef imports to help raise hog prices.
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