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Trade Volume Moderate in Hogs

MORNING LIVESTOCK FUTURES OUTLOOK

LEAN HOGS

Trade volume on Lean Hogs was moderately active as traders bought  summer hogs and sold fall into 2024 Lean Hogs.  Pork is benefiting from high beef prices.

LIVE CATTLE

Live Cattle futures gapped higher on the open, moved higher and then reversed. October 2023, December 2023 and February 2024 had key reversals, gapping higher on the open and closing below the previous day’s lows. August 2023 did gap higher but closed above the previous day’s low for an outside day down and found support and a low on the 5 day moving average.  Cash cattle markets continue to move higher week after week.

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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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