Written Commentary
MORNING LIVESTOCK OUTLOOK
Cattle weights are dropping and the grading percent is dropping. This shows feedlots are moving cattle as fast as the packer will allow them to be moved without docking the price. Heavier high grading cattle are becoming harder to fill orders. If there were heavier Choice/Prime cattle, the kill would probably be larger.
This past week traders reversed summer hogs. There was spread trading and outright spec selling. By the numbers from the hogs and pig report, it wasn’t bearish. It is the reason hogs on the morning after the report gapped higher. The recent down turn was due to the extreme high prices before the report for summer month hogs.
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.
