Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
February live cattle busted through contract highs made back to September 2023. Choice beef prices are beginning to top, but select beef remains high. The daily choice price is trading below the 5 day simple average, an indicator beef prices have topped.
PORK COMPLEX
Live Cattle/Lean Hog spreads are blowing hogs away. Pork prices were higher Thursday with a big jump in loins up on morning sales, up $5.18. Pork prices have benefited from high beef prices. But if and when beef prices drop, pork will drop.
Mexico is preparing for tariffs and dropping and cancelling tariffs with the EU to replace pork from the US one tariff with the EU with pork legs that were cancelled.
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