Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live Cattle were down Monday, but traders were bull spreading. March is a speculators month. Spread trading is going to be active.
Export and import international trade for meats and livestock will be out on march 7th . For 2024, beef imports were up 24.6%. Expect increasing imports for January 2025 and into 2025 from Brazil and Australia.
PORK COMPLEX
Big moves in bellies and hams Monday. Hams early up 31.89 and by the afternoon up 5.55. Hams early were up 4.75 and later up 1.03. Early the 5 day carcass average was up 7.06 at 99.43 and by the afternoon it was 98.30 compared to the previous day at 98.02. Pork competes with poultry and with fryer numbers expected to be 2% higher in 2025, it likely will be hard to see a rally in hogs.
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