Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
August live cattle futures are $.28 over the weighted average steer price 07/30/2026 compared to the previous day at $2.69. Trade volume was light as futures continued to see shorts liquidating and spreads reversing.
With beef cows down 1% and the calf crop down 2%, the steep drop in Feeder Cattle were traders playing in a non-spot market.
LEAN HOG COMPLEX
Trade volume was active as lean hog futures fell for the second day. From the close on Tuesday to the close Thursday, August lean hogs dropped 4.55. The August live cattle/August lean hog spread has changed with cattle gain $10.55 over hogs.
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