Could Pork Be Topping?
MORNING LIVESTOCK OUTLOOK
On all indications there are going to be fewer cattle in the months to come. Many analysts feel that the biggest slaughter is peaking. Slaughter for last week was 651,000 head down 18,000 head from the previous week. The market is acting like the peak in cattle numbers are over and moving forward kill should drop into 2023.
Could pork be topping? On early sales on Friday the 5 day pork carcass price was $126.70 compared to last Friday’s final price at $127.50. Not a big change but a possible indicator pork prices may be slowly turning down. Maybe a better indicator was the drop in loin prices from Thursday to Friday, down $4.05. Kids are going back to school mid to late August and with inflation a major concern for many parents, the costs and fees for school can be a substantial expense.
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.