Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Beef buying will be in 2026 for the cheapest choice beef primal sections and select beef. The select cattle market needs Mexican cattle and an increase in US cows killed. Don’t expect the cow kill to increase any time soon. Demand for ground beef in 2025 had record demand and record prices. With an increase of imported beef prices are likely to slightly weaken but demand should be as strong if not stronger.
LEAN HOG COMPLEX
February 2026 lean hog futures are $3.20 over the CME Lean Hog Index. According to the Hogs and Pigs Report more hogs are expected. At the same time US pork is going to have increasing export competition.
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