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Demand For Feeders Strong

Livestock AM Outlook

Trade volume was very light on Live Cattle futures Wednesday.  Spec longs exiting August was the primary activity. October dropped to first support, the 10 day moving average and bounced off.

Demand for Feeders is strong. Feedlots are current in the north and Midwest. Grain is cheap. Contract feedlots need to keep pens filled.

Hog slaughter almost daily is being revised lower. With direct hog prices moving down it is reminiscent of what took place as COVID 19 hit packing plants in the spring. Several Midwestern and Southeast states such as Georgia, North Carolina, Nebraska, Missouri and Iowa have had surges in new cases of the virus.  Need to keep a watch on weights if they begin to increase suggesting packers are backing up hogs.

 

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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