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Slow Trading Ahead of CoF Report

MORNING LIVESTOCK OUTLOOK

Expect slow trading ahead of Cattle On Feed report. Unless boxed beef drastically changes direction this week, up or down, packers need to buy cattle but they aren’t going to add much more than $1.00 to do it.  Select beef sales are too large in comparison to Choice.  Packers getting more than enough cheaper beef that they can fill orders on trimmings and ground beef that keeps Choice beef from any large rally and actually pressures it.

herd of cattle

Packers dropping hog prices and at the same time are able to increase pork prices. Weights are moving up. All three are beneficial for the packer. It isn’t positive for the producer.

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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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