Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Cash cattle in the Midwest on light sales were $1.00 higher from $186.00 to $187.00 and dressed prices $295.00. Cash cattle in the Southwest were $1.00 to $2.00 higher mostly $184.00 on light sales. As of Friday total head sold negotiated in Texas. Oklahoma and New Mexico were just 2,557 head. Compared to a week ago slaughter was up 7000 head. June and August Live Cattle are bull spread. From October into 2025 Live Cattle are bear spread.
LEAN HOGS
Compared to a week ago the pork carcass price on the 5 day average had little change. As of Friday sales, the 5 day average was $98.35 compared to a week ago when it was $98.20. With all the up and downs of belly prices over the week, bellies were down just 34 cents. Loins gained $1.63 and hams were down 79 cents. Stronger exports weren’t much help for futures trading. But with June and summer hogs premium to cash, it is hard to get them energized to moving higher. Cash hogs have been slowly slipping down and aren’t benefiting futures.
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