Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
February 2025 through December 2025 Live Cattle made contract lows on Wednesday. On September 15 through 19, 2023 live cattle futures made contract highs. December 2023 live cattle dropped $29.70 to December 7, 2023. December 2024 live cattle fell $25.22. Friday’s Cattle on Feed report likely will show a few more cattle on feed.
LEAN HOGS
October Lean Hogs are $13.56 below the CME Lean Hog Index. It is going to be hard to break October but there are many days, about 2 months, until it expires and needs to converge with cash.
The world has pork and countries need to export it. China is expected to buy 21% less imported pork. The US needs to move pork. Brazil needs to export pork. The EU needs to export pork. Now, the Russian pork industry is saying they will begin to increase pork sales into China. 2025 could see a global pork war.
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