Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live Cattle futures open interest pulling off the highs before first notice day. The January COT report did show placements were down 2%.
Dairy cows seem to be getting hit with avian flu again. When they get it, reporters continue to write about beef. Because of the Covid pandemic people are wary especially when reports talk about thousands of birds and hundreds of cows get the flu and now how avian flu is mutating. Over the next few months expect more reports about it that will be negative for cattle prices.
PORK COMPLEX
Lean Hog trade volume was light for the week. Hog futures have been steadily moving up following the cash hog and pork market. Slaughter was down for the week and weights show hogs are current. Exports are good.
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