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Exports Supporting Hog Market



The CME Lean Pork Index and the CME Lean Hog Index have been working up, but the Lean Hog index is going up faster than the Pork index. Packers aren’t going to push slaughter. They will kill what they need for contracted pork orders and enough hogs to fill daily orders. Pork prices are slowly moving up and compared to beef are cheap and an alternative purchase for protein.  Movement on daily sales are light and it is the export market especially from Mexico that is supporting the market.

Shipping port and cargo


Live Cattle futures continue to move up narrowing the difference between higher priced cash cattle and lower Live Cattle futures as prices move to convergence in a little over two weeks.  Choice Boxed Beef on Thursday was up 16 cents  with gains on Chucks and Rounds but rib and Loin primals were down.  The spread between Choice and Select beef continues to narrow which normally is negative for beef prices as consumers shy away from higher grading  and more expensive cuts of beef in favor of lower graded beef. They are price shopping.

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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.

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