Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Monday there will be little reaction to the Cold Storage report with traders focusing instead on the friendly Cattle on Feed report. Now can see why traders were reversing bear spreads over the week. On Feed as of January was in line with estimates, but still are down 1%. It is the placements off 3% that show that there are fewer cattle.
PORK COMPLEX
Live Cattle/Lean Hog spreads are blowing hogs away. On December 23, 2024, the April LC/April LH spread opened with cattle $99.37 over April hogs. On January 24, 2025 the spread was at $115.00.
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