Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Cattle On Feed as of August 1st and marketings in July were as expected. But larger than expected placements are bearish especially for December into 2025. Monday, August will trade with the expectations of a lower cash market for the week. Cattle during the 4th quarter and into 2025 will be pressured by larger placements, increasing beef imports and increasing cattle imports.
LEAN HOGS
Cash hogs and pork went the opposite direction of lean hog futures over the past week. Both the CME Lean Hog Index and the CME Pork Index were lower with pork losing more than hogs, but the futures market was higher.
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