Written Commentary
MORNING LIVESTOCK OUTLOOK
Spread reversals were a big part of trading Thursday whether it was hog/cattle spreads or cattle/cattle spreads and for algorithms a combination of both. Volume was light and it has been light since last week’s Cattle on Feed Report.
Boxed beef continues to improve, but load movement of beef on the daily market is small. For the week Wednesday had the biggest sales with 87 total loads.
Trade volume in Hogs was moderate for June and very light for all other months. The Hogs and Pigs Report was not bearish. Since 2020, the US Hog herd and breeding have been declining. This report didn’t even show more pigs per littler.
Learn more about Chris Lehner here
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.
