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Feeder Cattle Futures Were Flat


Feeder Cattle futures were flat over the past week.  With large premiums extended into 2024, traders are sticking with longs.

Export demand has been good from the first of the year and daily beef sales from primal ribs to ground beef prices have been gaining for days.  With low unemployment consumers are buying beef from cheap hamburger to Choice and Prime steaks.

cows eating grass

Mexico is the top buyer of U.S. pork and with a strong Mexican Peso to the U.S. Dollar, it certainly helps to sell U.S. pork into Mexico. For 2022 pork exports to Mexico were 843,461MT compared to 2021 at 755,560MT up 12%.  Combined U.S. Pork plus Pork Variety Meat exports to Mexico were up 10% at 959,701 MT.

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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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