Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume was light Monday. Live cattle moved down to support on the 5 day moving average and turned around to close higher. Spread traders were bear spreading. August through December neared contract highs and February 2026 on out moved slightly above contract highs made on august 8th.
Feeder cattle made new contract highs Monday. Traders last week felt Secretary of Agriculture Rollins would lift the quarantine and when she didn’t, traders needing feeders were once again buying and short liquidating. At the same time traders were bear spreading Monday.
PORK COMPLEX
Hog volume was light Monday. Traders can’t decide if the expected increase in inventory will be bearish or if the expected increase in consumption will be positive.
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