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Spread Traders Buying Hogs

MORNING LIVESTOCK FUTURES OUTLOOK

LIVE CATTLE

August Live Cattle settled Wednesday at $178.80 .  The 5 day average negotiated steer price is $183.38.  Wednesday there were 10 retenders and 10 reclaims.  August Live Cattle with longs liquidating moved prices down.  For October on out spreaders are reversing bear spreads and most of all buying Lean Hogs and selling Live Cattle.

pig closeup

LEAN HOGS

Spread traders buying lean hogs and selling live cattle.  With October over a month away and December 4 months away speculators have a lot of time to play the spreads.  Also with October Lean Hogs as of Wednesday’s close $8.81 under the most recent CME Lean Hog Index and December 17.31 under the Lean Hog Index, speculators can claim, they are buying hogs, to even the difference.

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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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