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Live Cattle Volume Active

MORNING LIVESTOCK OUTOOK

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Live cattle corrected from becoming too overbought Tuesday bouncing up to resistance but they couldn’t hold the highs. December closed $5.52 over October but spread just dropped to the 10 day moving average and stopped.  Look for spread to return to narrowing.  Spread has been narrowing since August 31st and Tuesday appears to be a simple “Tuesday turn around.”  Volume was active.

The daily pork market has become a drop in the bucket of total pork produced. Cash hog prices continue to drop.  Spreads from December through April are widening out. Traders are looking ahead at global herd expansion.

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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