Written Commentary
MORNING LIVESTOCK OUTLOOK
Cash cattle started to sell Wednesday at $153.00 in the Midwest and $150.00 in the Southwest, steady with last week. Sales were light. There are feedlots that are asking $156.00 in the Midwest but with boxed beef moving sideways this week unless it changes Thursday, steady prices likely will be it.
Killing more hogs is helping packers. Hog slaughter is back to levels where hogs slaughtered/hour is more cost efficient. Wednesday, on the early pork sales the carcass was up $1.82. Sales were light with just 167.03 loads of pork cuts sold and 14.78 loads of trimmings. Pork loins moved up $4.32 but for the 5 day average loins were up just 9 cents. Not surprised to see loins higher. Loins are cheap at $88.94 cents.
Learn more about Chris Lehner here
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.
