Written Commentary
MORNING LIVESTOCK OUTLOOK
Beef net exports sales of 17,100 metric tons were just mediocre and about 8,000 metric tons less than where they need to be.
It is likely that movement of Ground Beef and the cheap Select cuts will see more movement. With cow kill already big, fast food restaurants might have to pick up cheaper US beef. Ground beef movement has been increasing the number of loads. It may be consumers buying cheaper meat due to inflation or could be the US is importing less beef.
Pork net sales of 31,100 metric tons were good with Mexico the largest buyer. For the second week China cancelled exports and along with new tariffs, market probably will be disappointed on both reasons. At least the US can count on Mexico.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.
