Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
Both hogs and pork are slowly moving up. The difference between CME Lean Hogs has been favoring pork over hogs which is good for the packer. But neither hogs or pork are making big moves. Pork remains cheap compared to beef and it is likely the reason for the up move along with week after week excellent pork exports.
LIVE CATTLE
Packers started buying cattle Wednesday and continued Thursday in the Midwest but for all but a few at least as of Thursday have not taken cash cattle in Kansas and Southwestern states. What they have bought in the Southwest are being bought for $172 compared to Midwest cattle at $180.00 to $182.00 with delivered cattle up to 184.50. Leaving out Southwestern cattle the average weights for steers are over 30 pounds heavier.
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.
