Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Packers are concerned about deportation of immigrant workers. Packers depend on immigrants with an estimated 40% to 50% 0f workers undocumented immigrants.
With the large open interest, expect swings big swings. Big spec traders from individuals to funds have large positions that are mostly spreads, moving them for profits or outright liquidation will move markets.
PORK COMPLEX
Trade volume was light to moderate Friday. Traders were mostly narrowing spreads. February also was narrowing the difference between cash and futures.
The difference between the CME Lean Hog Index and the CME Pork Cutout at $9.38 puts packers with a positive margin. Weights close to a year ago. Hogs are current.
>>Read full report here.
Interested in more futures markets? Explore our Market Dashboards 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.
