Live Cattle futures spreads: Bullish
- The August-October closed at $3.70
- as compared to the end of May’s settlement at $1.95
- and the previous 5-year high weekly close for the last week of June at $0.55
- The October-December closed at (-$0.475)
- as compared to the end of May’s settlement at (-$0.775)
- and the previous 5-year high weekly close for the last week of June at (-$1.025)
- The December-February closed at ($0.10)
- as compared to the end of May’s settlement at $0.10
- and the previous 5-year high weekly close for the last week of June at (-$2.55)
- The bottom line is the commercial outlook on supply and demand remains bullish through at least the end of 2025.
Feeder Cattle futures spreads: Bullish
- The August-September closed at $0.05
- as compared to the end of May’s settlement at $1.125
- The September-October closed at $2.10
- as compared to the end of May’s settlement at $2.00
- The August-October closed at $2.15
- as compared to the end of May’s settlement at $3.125
- and the previous 5-year high weekly close for the last week of June at (-$0.70)
- The bottom line is that despite spreads weakening during June, the commercial outlook remains bullish.
Lean Hogs futures spreads: Bullish
- The August-October closed at $15.10
- as compared to the end of May’s settlement at $16.10
- and the previous 5-year high weekly close for the last week of June at $15.525
- The October-December closed at $8.625
- as compared to the end of May’s settlement at $8.20
- and the previous 5-year high weekly close for the last week of June at $7.125
- The December-February closed at (-$1.80)
- as compared to the end of May’s settlement at (-$2.60)
- and the previous 5-year high weekly close for the last week of June at (-$3.425)
- The bottom line is the commercial outlook remains bullish through at least the end of 2025.
