Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
USDA Ag Secretary Rollins on Wednesday backtracked President Trump’s announcement of importing beef from Argentina. She noted that Argentina’s own production capacity would likely limit imports to the US and she also brought up the potential risk of foot-and-mouth disease from Argentina. Rollins also said over the years the US sent beef to countries like Brazil and now it is time for reciprocation. She talked again about opening grazing lands to boost inventories.
PORK COMPLEX
Lean Hog trade volume was light to moderate Wednesday as December through April were lower and summer months were higher. Spreading was the majority of the trade with most volume in the front 3 months widening bear spreads.
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