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LH Attempted to Extend Rally



Lean Hogs attempted to extend the recent rally but gave it all back late into the trade.  However, the drop didn’t break technical support and volume was moderate on December and light for contracts into  2024.  About all that can be said, is the trading Wednesday gave up earlier week gains.  With cash hogs weakening and pork prices moving lower, the gains of Monday and Tuesday weren’t warranted at this time.

black colored hogs


A few funds have started to roll to February which for a couple of weeks could pressure December and move February and April up.   As of Wednesday there were just a handful of cash cattle sold.  With boxed beef down hard Tuesday and Wednesday packers will try to use it to their advantage and want to buy cash cattle lower. But with limited cattle available in the Southwest, they need to secure cattle and make sure they have cattle at the very least to meet contracted beef orders.

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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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