Choice Boxed Beef Slammed
MORNING LIVESTOCK OUTLOOK
Choice boxed beef was slammed Monday. Choice fell $6.62 with Choice rib sections down $27.61, Choice loins dropped $7.29 and other Choice primals fell except Choice flanks. Demand for the holidays ran rib and loin sections higher bring up the total beef cutout price. It helped to move the cattle market higher. It is a bit early to say for certain, but if the beef market seasonal demand is over, packers are likely to move cash cattle prices down.
Lean Hogs moved up to new contract highs Monday but didn’t have any follow through buying and ended the day mixed, a few pennies higher to a few pennies lower. Trade volume was light. With pork prices at current levels, and what appears to be weak exports into 2023, there isn’t a lot of incentive to push prices for hogs or pork higher.
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.