Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Feeder cattle are leading live cattle higher. Placements have been dismal. The largest beef demand time is approaching.
On top of cattle on feed numbers down and the low placement, with the current tariffs, the US is importing less beef. US consumers have record high priced beef. Until cattle inventories increase, the US needs to increase beef imports to lower beef prices.
PORK COMPLEX
Pork prices have been steadily falling as slaughter increases. More pork has been going on the daily market versus previously contracted orders.
US consumers may be eating more pork, but it is due to increased processed pork such as ground pork and products like sausage. pork sales of trimmings have been increasing
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