Written Commentary
Livestock AM Outlook
Heavy weight cattle are one of the biggest problems now. Lighter cattle are in the South and Southwest with feedlots asking $108.00. Midwest cattle could again this week be priced under South and Southwestern cattle.
With large loads of trimmings and ground beef being moved and increasing COVID 19 cases in the US and globally, if it trend continues or increases, it may be an indicator consumers are hoarding as they did in March. Cities across the US are seeing surges and consumers although not locked down are beginning to withdraw on their own.
Trade volume in lean hogs picked up in the afternoon and cutout was down 4.31 Now, all primal cuts are below 5 day moving average. Hog weights remain high. Seem to be plenty of hogs.
Trade wasn’t too excited about trade deal with Viet Nam. Shucked off the positive news and traded lower Wednesday however.
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.
