Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Cattle on Feed numbers were as expected but placements are down 2% below estimates.
the COF report is friendly and live cattle and feeder cattle should be higher Monday. But with the announcement of beef imports from Brazil and the way the market traded the news on Friday’s open, sharply lower, it is difficult to say how traders will react on Monday.
LEAN HOG COMPLEX
Cash pork prices have been moving steadily lower and hogs prices have followed. Reports indicate pork consumption is up in the US but it isn’t making up for the loss of exports and the global growth of hogs.
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