Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
August Live Cattle on Wednesday settled at $178.67. The 5 day negotiated steer price is $186.33 .
Choice boxed beef was off 37 cents early and off 88 cents by the afternoon. The beef market is showing what buyers want and it is cheaper lower grade Select beef that was up $2.95 in the morning and 2.26 later. Buyers want cheap cuts moving away from the more expensive primals, such as Choice ribs and loin primals.
LEAN HOGS
In light volume, August Lean Hogs settled Wednesday at $101.65 and the current CME Lean Hog Index is $105.26.
Packers are taking as many hogs as they can that are of weight. Producer owned hogs have started to stabilize but packer owned hogs continue to slip lower.
Interested in more futures markets? Explore our Market Dashboards 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.
