Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Secretary Rollins expected to allow Mexican cattle but no news so far.
Tariffs on beef still loom over beef imports from Brazil, Australia and Canada.
Tuesday trade volume was just moderate. December moved lower after the open to the 22 day moving average and then bounced up to resistance to the 5 day moving average. There hasn’t been an established cash prices for the week so the spec traders had control just as they did on Monday.
PORK COMPLEX
Cash hogs traded steady to slightly lower during September. Pork prices during September were steady to slightly lower.
The drop in US pork exports is going to hurt hog prices. Traders are expecting increased US pork consumption but will the drop in exports be adverse compared to US consumption.
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