Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Livestock futures have tumbled since April 3rd on anticipation of a global trade war and the outlook for recession. The financial markets were surprised with the large number of countries that had tariffs placed on their products. Beef prices, what are happening in the here and now, are trading what current buyers are needing from 1 to 21 days and beef and pork that have been previously contracted.
PORK COMPLEX
Hog futures dropped limit Friday. Traders reacted to the falling financial markets with China, the second largest buyer of pork retaliating. From the first tariffs president trump placed during his first term, US exports have not increased however, China has increased buying from Russia and other countries and Chinese investors have increased investments in hog growing facilities in other countries.
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