Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Saturday will start tariffs with Mexico and Canada. Cattle and feeders likely to be on the list from Mexico as well as Mexico placing tariffs on pork and from Canada tariffs on cattle entering the US. Packers and feedlots need Mexican cattle and US packers need cattle from Canada. Mexico will place tariffs on pork. With Mexico the biggest US pork buyer, it is negative for hogs.
Beef buyers will need to source beef outside of the US look for imports from Brazil and Australia to increase.
PORK COMPLEX
Tariffs begin Saturday. Mexico is the largest buyer of pork. Not selling pork to Mexico will be bearish.
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