Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Packers opened up bids Thursday at $190.00 with a few as high as $192.00, $2.00 higher than a week ago. Dressed cattle were 298.00 up $2.00. Prices are the same in the Midwest and southwest. Live Cattle futures took the positive news and closed higher with December Live Cattle finally closing above $188.30 at $189.25. December opened on the 5 day moving average, dropped to the 10 day and reversed to close the highest since July 29th.
PORK COMPLEX
Trade volume on Thursday increased but was far from heavy. December Lean Hogs, the most active contract, had volume at 26,789. December opened up slightly lower, turned higher making a new contract high at $80.30 and mid-morning moved off the highs to close down at 78.65 making an outside day down day.
>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.
