Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live Cattle futures made new contract highs except for October that came within 50 cents of the contract high and 7 cents of a new high close. Wednesday’s trade volume was moderate. Boxed beef prices had a second day gain of $4.00 plus helping to push futures higher. Beef is higher now but traders are expecting a down turn in October futures after the demand slackens for Labor Day.
PORK COMPLEX
January through June 2025 US pork exports were in total down 4%. Muscle cuts were down 2% and variety meats were down -13%. Traders believe consumers will eat more pork in 2025. With expected increase of 1% in inventory it better happen. The big unknown is – will US export more pork. So far for 2025 it is not happening.
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