Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
With the fairly large open interest of 33,229 on Wednesday on February live cattle, the surge higher was shorts kicking out before First Notice Day.
Feeder cattle futures are and have been bull spread and with the strength in feeder cattle, they should be. The spreads have been a good gauge for market direction and will be a good indicator when prices reverse.
LEAN HOG COMPLEX
February 2026 lean hogs settled on February 04, 2025 $88.00. February 2026 lean hog futures are $2.17 over the CME Lean Hog Index.
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