Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Small retail “hedgers” and speculators were liquidating.
The first hot weather will affect feed conversions with temperatures in Nebraska and Kansas in upper 90s to over 100 with heat indexes in the 100s. Middle meat prices are busting through the roof. Grinding companies can’t get enough beef to grind. On top of it rib and loin sections continue moving higher.
PORK COMPLEX
Hog slaughter is beginning to increase. Hog weights have been steady and are 1 pound over a year ago. Higher hog prices are due in part to the lower hog supply in 2025 but also due to the historically high beef prices in the US and globally.
Moving forward if beef prices drop and hog slaughter continues increasing, prices will drop.
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