Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
US consumers like beef. In 2024 consumption was at 13.3 million tons compared to 2023 at 13.0 million tons. For the feedlot selling cattle, it is good news because consumers are willing to pay for beef and they are willing to pay high prices for the highest priced cuts.
PORK COMPLEX
Big move up on hogs Monday. With expiration for April still about a month away, the price April settled at $88.07 is not far from the CME Hog Index at $89.55. Spread traders were active with summer hogs. Currently large spec traders and funds have moved to June on out and are moving spreads on summer to fall and winter hogs.
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