Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Cattle futures on Tuesday continued trending lower. With increasing imports and cattle crossing the border, along with speculators bear spreading and selling cattle and buying hogs, the path of least resistance for cattle and feeders is lower.
The trade war with Canada is back on. Although beef is not in the tariffs, it is hard to say what Canada will do to retaliate. Canada exports beef and cattle to the US. Canada and other countries are looking to make new trade agreements leaving the US out.
LEAN HOG COMPLEX
Trade volume was light. Spreading was the majority of it, with October gaining on December and traders bear spreading into 2027.
As hog slaughter has been increasing and with beef prices moving down ,cash hogs and pork have been moving lower.
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