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Livestock Market Outlook

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Daily Livestock Report

Using the daily boxed beef cutout or the pork carcass cutout as criteria for pricing cattle or hogs is not what it used to be.  Primarily because daily movement is such a small sample of beef or pork sold. Over the past 5 days  the average boxed beef movement was 117 loads. At 40,000 pounds per load, that’s 4,680,000 pounds of beef.  Using a  slaughter of just 117,000 cattle per day with last week’s steer and carcass average of 878 pounds, it is about 102,726,000 pounds. Somewhere there is 98,046,000 pounds of beef or 95.5 percent.

With big Saturday slaughter and packers pushing as many hogs through the plant as they can at this time, hogs are current. Weights have been dropping and when packers are making about $65/head it is easy to see why they are pushing hogs to kill.  By the end of this week the year to date slaughter is going to be 1% above a year ago and that’s with packers down or slowed March through April.

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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