Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
The pork market is being supported by a strong belly market and likely it is higher due to strong exports possibly with China buying pork and especially for the Lunar holiday. February 2024 Lean Hogs are $2.75 over the CME Lean Hog Index. April settled $8.37 over February.
LIVE CATTLE
Boxed beef prices were lower for the week as packers brought more cattle to slaughter. Weights are down and packers need to bring in more cattle for slaughter to meet tonnage lost due to subzero temperatures. Weights should increase as weather in many areas is above normal.
FEEDER CATTLE
Higher feeder cattle prices are being supported by contract and packer owned feedlots. Lower grain prices help and seeing some smaller trying to buy feeders and grain prices fall in the Midwest vs selling corn as they did last year.
>>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.
