Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
August Live Cattle pushed to new contract highs Friday but fell off to close .12 cents lower from Thursday. Friday’s trade volume was light. There are traders waiting for cash cattle to break as beef prices drop and others expecting prices to remain strong with the light slaughter.
PORK COMPLEX
Pork prices have moved higher over the week. The 5 day average carcass price as of Friday morning gained $2.46. Most of the move higher was due to bellies up $4.84 and hams up $7.43. Loans gained 49 cents. Picnics were also higher while ribs and butts were lower.
The higher pork prices came at the expense of packers daily revising slaughter down. For the week slaughter was down 31,523 head.
>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.
