Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
Lean Hogs opened lower with October Lean Hogs gapping lower and remained lower throughout the day taking out the recent lows of July 22nd, July 30th and August 7th. Pork prices have been steadily falling just the opposite of what happened in July. From Wednesday to Thursday the 5 day pork carcass average was off $1.52. The 5 day average price for hams was down $1.95 and bellies were down $4.88. Ribs, butts and picnics are all lower. There seems to be no build up for these products for Labor Day.
LIVE CATTLE
Live Cattle futures volume was considerably lower Thursday. October Live Cattle volume was just 18,550 contracts. When Live Cattle settled at 1:00pm the Dow was up 675 points. Reporters like to have a fresh fundamental reason for movement such as the recent drop in stocks, but the reality , the cattle market is having its own indicators.
>>Read full report here
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.
