Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live cattle trade volume on was light on Thursday. Traders are waiting for Friday’s COF report and to see what cash bids do this week. Slaughter for the week likely will be down with lower beef prices and a time when seasonal beef demand drops.
Slaughter is down for the week because of weather in the northern areas of the Midwest. However, do packers care? The CME Beef Index is down from last week even on a lighter kill.
LEAN HOG COMPLEX
Trade volume was light Thursday. Traders are waiting for exports that were delayed a day. So far in 2026, exports have been good and have been supportive for prices.
Pork per capita in 2024 was 49.9 pounds and for 2025 it was 49.3. It is estimated to be 50.5 in 2026. Consumers increased slightly in 2025 beef and increased poultry over pork.
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