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Volume Light in Hog Futures

Morning Livestock Outlook

Lighter showlists this week, big packer profits and feedlots finally seeing black instead of red margins have given Cattle feedlots something to stand upon holding out for higher prices. They know packers want to kill cattle. Asking prices are $108.00 to $110.00. The fefw cattle moved in Iowa/Minnesota were cattle bought last week that were shifted to this week.

The October/December Lean Hog spread is oversold. Look for spread to reverse. December $10.40 under October is ridiculously wide. Volume has been light on hog futures. A ridiculously wide spread plus low volume trading is needs to be carefully watched for December to turn around.

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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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