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LC Moderately Active Trade


Avian flu is the news of the day but when it all boils down, packers are losing money on showlist cattle and boxed beef.  It is an unknown what packers make or lose on contracted cattle, their own cattle and beef previously contracted.  But with fewer cattle for slaughter, it is costing packers.  Consumers are also resisting higher priced beef.


cattle near a stream


Cattle trade volume was moderately active Tuesday.  April 2024 Live Cattle went off the board at $185.00 down 40 cents settling in between last week’s prices for Southwest cash cattle and cattle in the Midwest. For June Live Cattle on out traders were selling.  From the April closing price to June closing price on Tuesday the difference widened to $10.05 widening $1.80 from Monday. At the same time as outright futures moved lower, spread traders were bull spreading.


Trade volume was light Tuesday as Lean hogs closed mixed.   Futures moved to resistance early and then sold off into the close.  Pork prices have been moving lower and cash prices remain near where April settled $90.00.  Summer hogs are at a large premium to cash.


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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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