Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Boxed beef continued higher for the 5th day on Friday. The cutout has exploded to the upside. It is hard to say if the jump in prices is due to memorial day demand, or will higher prices continue past memorial day. Travel is expected to be the highest since 2000.
LEAN HOGS
Cash hogs were higher for the week with the CME Lean Hog Index up 85 cents and the CME Pork Index gaining 2.65. The pork index is packer friendly. Exports at a marketing year low are disappointing. Pork exports have been a shining light for pork in 2024. However, pork exports are now slowing compared to January through March and it is beginning to look similar to what happened a year ago.
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