Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live Cattle are bear spread December 2024- April 2025. Bear spreads make markets look good with higher prices into the future until the positions are liquidated. The boxed beef market is now trading current demand for holidays with demand for prime rib roasts, loin roasts and steaks. Consumers shopping now are stretching their meat buying budgets and buying the least cost meats and waiting to spend for holidays.
PORK COMPLEX
Lean hog futures have been bear spread with bear spreads widening. Lower ham and belly prices likely reflect the dismal pork exports. Both cuts have been strong export items. The one day price drop may or may not be significant. But it will be important to watch how pork trade goes over the next week and month because they pork has been a strong export, hog weights are increasing and global competition will increase.
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