Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
December open interest as of February 02/13/2026 9,211 contracts.
Primal chucks make up 26% to 29% of the carcass and now almost all chucks are going to the grinder more than they are being sold for roasts. Rounds are 20% to 24% 0f the carcass. Rounds are higher priced than chucks. Select briskets are higher priced than choice. The need for leaner beef is a market driver.
Feeder Cattle trade volume for the week was fairly light. The changes in the market came with spreaders.
LEAN HOG COMPLEX
There is some cash pork daily up and downs but from a week ago, the 5 day average carcass prices changed only by 5 cents. There is also little change in cash. Packers are still in the black but difference has narrowed. Exports were weaker last week, but still remain good.
Speculators especially spread traders dominate the lean hog contracts.
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