Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
The change in cattle prices in 2025 will be dictated by the consumer and the economy. Will consumers continue to buy high priced beef? There will be increasing beef imports especially if the US Dollar remains strong.
The COF report is neutral to friendly. Even though placements were 1.1% above the average trade estimate, it shows there is not an increase in cattle ahead.
PORK COMPLEX
Lean Hog open interest has fallen and lean hog futures are off the December 3rd highs, but at the end of the year after prices have surged, how much is due to speculative liquidation and how much has been hedging?
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