Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
From October 2024 through April 2025 Live Cattle are bear spread. After the COF report will premium prices for December 2024 through April 2025 remain? In other words, is there going to be expansion? Will the US keep increasing beef imports?
LEAN HOGS
Lean Hog futures have slowly been working lower as futures drop nearer to cash. Volume is light. Spread traders since April 25 have been selling August and buying October as well as selling August hogs and buying August cattle. This week traders will be waiting to see what exports do especially what Mexico buys.
Retail buying should be good for Memorial Day. With expected travel up the most in 20 years, people are spending money.
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