Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
June Live Cattle closed Thursday at $215.62. April went off the board at $215.75. It shows the importance of watching spreads.
Island tops remain on Feeder Cattle. Feeders closed higher Thursday, but did not fill gaps first left from Friday May 9th to Monday May 12th or from Wednesday May 14th contract high day reversal to Thursday, May 15th.
PORK COMPLEX
June, July and August are bear spread. These 3 months have by far the most volume and open interest. December into 2026 lean hogs are also bear spread. Packer margins are moving back to a positive area. Demand for pork expected to increase summer into end of the year.
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