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Lean Hogs Took a Nose Dive

MORNING LIVESTOCK OUTLOOK

LEAN HOGS

Lean Hogs took a nose dive Wednesday. It was expected.  Traders have been consistently bear spreading. Year to date slaughter for 2023 is close to 1.5% higher.

mother pig and piglet

LIVE CATTLE

Wednesday was the first time that June 2023 Live Cattle were below the 200 day moving average since September 30, 2022.  Also, other moving averages have turned down and are crossing over higher averages.  The 5, 10 and 20 day averages have turned down with the 5 and 10 day crossing over the 50 day. These are significant changes.

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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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