Live Cattle futures spreads: Bullish
- The June-August closed at $6.125
- as compared to the end of last month’s settlement at $4.35
- and the previous 5-year high weekly close for the last week of May at $3.535
- The August-October closed at $1.95
- as compared to the end of last month’s settlement at $2.10
- and the previous 5-year high weekly close for the last week of May at $0.125
- The October-December closed at (-$0.775)
- as compared to the end of last month’s settlement at (-$0.125)
- and the previous 5-year high weekly close for the last week of May at (-$3.625)
- The bottom line is the commercial outlook on supply and demand remains bullish, for whatever reason, through at least late 2025.
Feeder Cattle futures spreads: Bullish
- The August-September closed at $1.125
- as compared to the end of last month’s settlement at $1.30
- The September-October closed at $2.00
- as compared to the end of last month’s settlement at $1.975
- The August-October closed at $3.125
- as compared to the end of last month’s settlement at $2.525
- and the previous 5-year high weekly close for the last week of May at (-$0.725)
- The bottom line is the commercial outlook on supply and demand for the feeder cattle market, like live cattle, is bullish through the summer.
Lean Hogs futures spreads: Neutral-to-Bullish
- The June-August closed at (-$3.70)
- as compared to the end of last month’s settlement at $1.125
- The August-October closed at $16.10
- as compared to the end of last month’s settlement at $15.05
- and the previous 5-year high weekly close for the last week of May at $21.70
- with the previous 5-year average weekly close for the last week of May at $13.85
- The October-December closed at $8.20
- as compared to the end of last month’s settlement at $6.55
- and the previous 5-year high weekly close for the last week of May at $9.90
- The bottom line is the commercial outlook cooled a little late last month, both short-term and long-term.
