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Hog Weights Steadily Dropping



Hog weights have been steadily dropping over the past two weeks. To maintain the slaughter, packers are pulling up lighter hogs from packer owned and packer buying programs. May 2023 Lean Hogs settled at $76.62.  The CME Lean Hog Index at $76.50 is $10.70 under June Lean Hogs settling Tuesday at $87.20 and also widening on Tuesday.

group of pigs in farm yard


Tuesday Live Cattle futures volume was moderate.  Hedgers don’t want to sell with the discount to cash and longs are either old longs or are wanting indicators to add. This week many traders are sidelined and waiting for the COF report on May 19th. Slaughter picked up last week but to do it packers were buying fewer negotiated cattle and pulling cattle forward.

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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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