Written Commentary
LIVESTOCK AM OUTLOOK
Technical reversals on cattle Thursday, not quite key reversals, outside day down. Support levels held on 20 day moving averages. Volume was active with June trading 34,680 contracts. Possible profit taking ahead of Cattle on Feed Report this afternoon.
It is too early to say if lean hogs topped Thursday. It could simply be profit taking. Pork was up Thursday with the carcass for the day gaining $6.00 but on very light daily movement of 244 loads, not even 10% of the hogs killed.
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.
