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Traders Buying Hogs, Selling Cattle Spreads

MORNING LIVESTOCK FUTURES OUTLOOK

CATTLE COMPLEX 

Spread trading was obvious Wednesday as traders were buying lean hogs and selling live cattle.  Volume on Dec hogs and Dec live cattle were close to the same as were February and April up to the post trading.  From Friday October 25th the Dec live cattle/Dec lean hog spread settled with Dec cattle $110.50 over Dec lean hogs.  Today,  the spread dropped to $102.05.   The drop in live cattle goes along with the drop in beef prices.

 

 

PORK COMPLEX

Strong exports doubling the exports of last week should be good news. Trade volume was active for the second day. December Globex volume was 32,600 contracts and February was 20,912 contracts.  Much of the trade was buying lean hogs and selling live cattle.  Volume on hogs and cattle were very similar . Friday the Dec live cattle/Dec lean hog spread settled with Dec cattle $110.50 over Dec lean hogs.  Today the spread settled at $102.05.

 

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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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