Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
February 2025 live cattle settled on February 25, 2025 at $199.50 5 day accumulated weighted avg steer price on February 26, 2025 was $199.57.
So far for the week, cattle slaughter is up 9,000 head compared to a week ago which was expected after the wicked cold weather of last week. But for the first 3 days of the week slaughter is down over 29,000 head compared to a year ago. Packers are taking advantage of the heavier cattle to control the market.
PORK COMPLEX
Lean Hogs were up Wednesday on light to moderate volume. However, it isn’t saying much since lean hogs have dropped since February 12th after making contract highs.
Thursday, traders will be looking for export news. For the year sales are down from a year ago, but so far Mexico for the year is just slightly lower and is waiting to see what happens if and when tariffs take place. Mexico holds the key for pork exports.
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