Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Boxed beef prices were higher Monday and Tuesday because little is being offered on the daily market. After contracted beef orders are filled, there isn’t much beef left especially select beef to sell on the daily sales. Tuesday, select rib sections were $15.48 over choice rib sections. Consumers are saying they want beef and will pay for lower grade.
Feeder cattle were lower Tuesday following live cattle. volume was light.
LEAN HOG COMPLEX
Trading on Tuesday consisted of spreading mostly buying lean hogs and selling live cattle and dropping to the 22 day moving average but there was also light bull spreading after bull spreads widened to new lows on either Friday or Monday.
The positive fundamental for hogs is the strong exports.
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.
