Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
The September 12th WASDE report for beef production in 2025 was lowered on reduced steer and heifer slaughter and lower cow slaughter for third and fourth quarter. Beef production in 2026 is slightly higher with higher fed cattle slaughter that more than offsets lower bull slaughter. The beef import forecast is raised for third and fourth quarters of 2025 and unchanged for 2026.
PORK COMPLEX
The September WASDE report reduced pork production on slower rate of slaughter for third and fourth quarters and lighter dressed weights for the third quarter. Pork production for 2026 is unchanged. US pork plus pork variety meat total exports minus 4%.
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