Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
December live cattle on November 24, 2025 closed 2.90 under the 5 day average negotiated cash steer price. December live cattle open interest as of November 25, 2025 = 42,573 contracts.
News of Tyson Foods closing a packing plant in Nebraska and news of importing Brazilian beef trumped a friendly Cattle on Feed report on Monday.
LEAN HOG COMPLEX
The CME Lean Hog Index is minus $9.09 of the CME Pork Index 11/24/2025.
Consumers are eating more pork. Analysts estimate that US consumers are eating 51.40 to 52.00 pounds per capita. It would be up about a half to a pound per person. Load movement in trimmings is noticeably higher so it is the less expensive pork that consumers are eating.
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