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Traders Waiting For Export Sales Data


The big premiums packers paid in the Midwest during June and the first two weeks of July worked to entice feedlots to keep cattle on feed longer.  Packers will continue to keep the spread between southwestern cattle and midwestern cattle wide but likely won’t see the extreme wide spreads in the Midwest.

Traders will be waiting for exports on Thursday morning. Last week net pork sales were 20,600 MT and traders on Thursday will want to see at least 20,000 MT or more.

Trade volume was light Tuesday.  At current prices for hogs October on out, hedgers aren’t selling with big price of August compared to big discounts on October into 2023.

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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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