Exports Have Been Slowing Down
MORNING LIVESTOCK FUTURES OUTLOOK
August Live Cattle on Monday settled at $179.70. The 5 day negotiated steer price is $186.78. As it did in June, the wide difference between cash and futures will encourage feedlots to sell especially in the Midwest.
Pork prices are changing very little. The 5 day pork carcass average Monday was 114.37 down 31 cents from Friday. Loins and hams backed off last week and are the two products that need to be monitored going forward. Similar to the cattle market, packers are not going to push slaughter higher unless they see increasing daily pork prices or increasing exports. Over the past month exports have been slowing down.
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.