Written Commentary
MORNING LIVESTOCK OUTLOOK
Besides June Live Cattle, from August on out, there was very little change from last week. Next Friday there is the Cattle on Feed Report and likely by the end of next week with futures already looking for fewer cattle into end of 2022 into 2023, don’t expect much change especially with a 4 day trading week.
There are good reasons hogs are higher, but it all boils down to kill is far too low. Until hog numbers get consistently above 480,000 average on daily kill, can’t see hogs dropping too much except that the low kill is hurting packer’s profit margins and they could back off. Maybe start to import pork to the us from Brazil. What would really hurt to see Mexico moving to other countries for pork.
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.
