Beef Production Higher
LIVESTOCK AM OUTLOOK
Feedlots can’t seem to get to a point where what they have to move equals what packers need. The 5 day average steer weights average 1500 pound and dressed steers average 957. Showlist sales in the Southwest are at packers discretion and last week sales totaled 3,689 head in Texas, New Mexico and Oklahoma. There are a lot of good cattle with average grade at 85.8% so that isn’t a problem except they are big cattle.
Just a little over 200 loads moved Friday. Like beef packers are taking hogs to fill kills and not extra. Kill is down 3.8% for the year and should narrow margin over the next couple of weeks. Pork demand is good and like beef, this week traders will be waiting to see if exports can’t increase after last week’s slow net sales.
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.