Prices Drop For Cattle
Cattle prices have been dropping because there are too many Yield Grade 4’s and 5’s along with too many dead head 1’s and 2’s. Too many big Choice and Select cattle are a problem to sell and have so far kept the lid on Yield grade 3’s from moving higher.
Mexico is a weekly consistent buyer and likely reason fresh hams are strong. China small buyer. Could have topped big buying for year with Harvest Festival over. Plenty of poultry and pork available in China.
Pork market gained $4.80 for the week. Loins and hams both higher, bellies $10.00 plus. Butts and picnics were down and ribs steady. Movement was fairly light.
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.