Written Commentary
MORNING LIVESTOCK OUTLOOK
About the time beef markets look to turn higher, they reverse as they did Thursday. The leader of the beef market, Choice primal ribs were down 6.24, Choice loins fell 7.77 and Choice briskets were off $4.09. September is normally a slow beef month and with close to 3 weeks to go, beef could be in for more down movement.
It appears packers are limiting the hog slaughter. Thursday’s slaughter at 478,000 could have been push more because there were hogs not killed Monday, but packers keeping the kill down, does lower hog prices and puts less pork on the daily market. It also puts more weight on hogs and putting a few more pounds on hogs, won’t hurt price.
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.
