Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live Cattle opened stronger Tuesday up to the 10 day moving average but it turned around about 11AM CT, larger spec traders entered as sellers and move futures lower.
It is possible that when President Trump came out mid-morning and said there would be no SNAP payments when Monday it was announced partial payments would happen that traders took the news as negative and reversed the earlier higher prices. There were also rumors that Sec Rollins was opening the border.
LEAN HOG COMPLEX
Cash pork has been slowly increasing while cash hog prices have been dropping.
Hams and loins both sold below $90.00 Tuesday. Ham and loins are close to 55% of the carcass. Monitor these going forward. Seasonal pork goes into a low time, but if these products continue to break, it could become more extreme.
>>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.
