Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Monday, Live Cattle rallied on the open and by mid-day traders began to buy more front months and sell into Fall and 4th quarter. Volume was active. The COF report did little for the front months but is turning bearish for fall and late 2025 with heifers being retained.
PORK COMPLEX
Mexico is preparing for tariffs and dropping and cancelling tariffs with the EU to replace pork from the US. One tariff with the EU were pork legs that were cancelled.
The difference between the CME Lean Hog Index and the CME Pork Cutout at $9.40 puts packers with a positive margin.
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