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Traders Waiting on COF Report

MORNING LIVESTOCK OUTLOOK

Trade volume in Live Cattle was once again mainly on the Dec 2022 contract and the Feb 2023 contract and the volume was fairly light.  Traders are waiting for the Cattle on Feed Report on Friday afternoon and wanting to see if packers hold prices steady.

cows with an oil rig

Tuesday’s slaughter revision at 495,000 hogs is good for the pork industry. It shows packers have enough labor to meet any increasing hog numbers. Hog prices been up for two years. Expansion into 2023 is likely. Also, killing more hogs is more cost efficient for packers.

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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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