Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
June 9th is first notice day for June 2025 live cattle. From Monday, May 19th there are 3 weeks. Convergence will take place in June. Since January the June futures have had downturns. From Jan 29 to March 4th the market dropped 16.65. From April 4th to April 9th it dropped 15.92. Is this just another spec drop? Cash is certainly higher and beef prices remain high.
PORK COMPLEX
Hogs were higher Thursday. June went off the board on Wednesday and specs came into the market. June futures are 9.93 over the CME Lean Hog Index. The June August is moving to a bear spread.
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