Written Commentary
LIVESTOCK AM OUTLOOK
Consumers are fighting high cost of beef and buying lower grade beef and cheaper meat like ground beef. Tuesday morning ground beef made up over 27% of the load movement. By the afternoon combined trimmings and ground beef 36.95 loads or over 30% of total movement.
In hogs, export net sales were just 19,800 MT with Mexico the biggest buyer with 10,100MT followed by Japan with just 3,100 MT. Last month China wasn’t kidding when they said there was a glut of pork. They took 1,400MT and likely it was variety meats and offal. Exports need to be at least 25,000MT/week.
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.
