Market Data Disclaimer

All market data displayed on Protein Market Terminal is sourced from publicly available United States Department of Agriculture (USDA) reports, including the Agricultural Marketing Service (AMS) Mandatory Price Reporting (MPR) system and the Market Analysis and Reporting Services (MARS) system. Canadian trade data is sourced from Agriculture and Agri-Food Canada (AAFC) public reports.

Futures market data is sourced from public market data providers and represents CME Group contract settlements for Lean Hogs (HE), Live Cattle (LE), and Feeder Cattle (GF).

Commitment of Traders (COT) positioning data is sourced from the U.S. Commodity Futures Trading Commission (CFTC) public reporting system.

Nothing on this platform constitutes investment advice, trading recommendations, or a solicitation to buy or sell any commodity, futures contract, or financial instrument. All content is for informational and educational purposes only.

You should consult with a qualified financial advisor before making any investment or trading decisions. Protein Market Terminal and its operators are not registered investment advisors, commodity trading advisors, or brokers.

Market summaries, briefs, and natural language query responses are generated by artificial intelligence (Anthropic Claude). While these are based on real USDA data, the AI may occasionally produce inaccurate interpretations, miss important context, or present information in a misleading way. AI-generated content should be verified against source data before being relied upon.

Price projections are statistical estimates generated by quantitative models that analyze historical seasonal patterns, analog-year matching, and market indicators. They are not forecasts, predictions, or guarantees of future prices.

Projection accuracy limitations:

• Accuracy degrades with horizon — 1-month projections are significantly more reliable than 3-month projections
• Models cannot predict supply shocks, disease outbreaks, trade policy changes, or other structural market disruptions
• Historical patterns may not repeat in the future
• Individual cut projections are less reliable than composite cutout projections

Confidence indicators (HIGH, MED, LOW) shown alongside projections reflect the statistical reliability at each time horizon based on backtesting, not a guarantee of accuracy.

While we strive to present accurate and timely data, we make no warranties or representations regarding:

• The completeness or accuracy of USDA source data
• The timeliness of data updates (USDA release schedules may change without notice)
• The availability of historical data for all report types
• The accuracy of unit conversions ($/cwt to $/lb, $/kg, USD to CAD)

Data may contain errors, gaps, or delays. Always verify critical data points against official USDA sources at mpr.datamart.ams.usda.gov.

Protein Market Terminal shall not be liable for any financial losses, trading losses, or other damages arising from the use of data, projections, AI analysis, or any other content provided by the Service. Use of this platform is entirely at your own risk.