Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
President Trump and the Mexican president Sheinbaum talked on Monday morning and there will be a pause on US. tariffs for a month. Mexican beef exports from January – November 2024 were up 12% and they are the second largest buyer of US beef. Canadian imports of US beef were down 3%. Chinese imports were down 7%.
PORK COMPLEX
With President Trump deciding to delay tariffs with Mexico, a bearish outlook for exports was put on hold or maybe it wasn’t. The way the market reacted it appears traders felt hogs were safe for February but the tariffs in a month could happen. April lean hogs closed down the limit.
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