Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live cattle dropped to the 5 day moving average and bounced off it Tuesday. Along with spreads, Tuesday was a technical trade day on light volume.
Heat next week from south to north high temperatures with many areas over 100 degrees, it will be hard on cattle. This summer especially in the southwest, it has slowed feed conversion.
But getting weights down could help prices. Cattle weights have been high and dropping pounds off finished cattle will mean less beef per animal.
LEAN HOG COMPLEX
August 2026 lean hogs settled on August 04, 2026 $97.85.
Traders are still unwinding long lean hogs and short cattle spreads. Lean hogs were also bear spreading. Trade volume was light to moderate Monday.
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