Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live cattle futures opened higher with June live cattle making new contract highs which was expected with the higher cash market last week and shorts liquidating. From August on out futures closed higher on light to moderate volume. However, spread traders were bear spreading Monday both live cattle and feeder cattle. Compared to a year ago spreaders were bull spreading in 2025 and now are bear spreading.
The USDA reported Monday there were 3 new outbreaks of the new world screwworm reported. One was a lamb in Crockett county and two were calves in Edwards county. As of Monday morning the USDA has reported since June 3rd a total of 14 cases in Texas and 1 in New Mexico.
LEAN HOG COMPLEX
Hog weights are up 6 pounds from a year ago. Packers are keeping kill right at the level where they can fill previously contracted pork orders, the few day to day orders and not to back up too many hogs.
With the extra hog weight pork production as of last week was up .5% with slaughter year to date down 297,314 head.
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