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Live Cattle Ended Last Week Higher


Live Cattle didn’t have big moves this week but ended higher and it was obvious the market is bull spread.  Packers didn’t seem to have any problems finding cattle with a slaughter of 661,000 head.  One thing the COVID pandemic did for cattle industry, it moved more cattle from the producer showlist feedlots to various packer programs.  It means fewer cattle will be on showlists, and more cattle under direct packer control and more feeders sold direct to feedlots offering long term buying programs.

sitting cattle in field

Net sales at 13,100 MT are starting the year out bad for pork.  Mexico took only 4,700 MT and Japan took only 3,500 MT.  Similar to what has been happening in beef exports, countries are reducing exports.  Pork exports need to be at least 20,00 MT to 25,000 MT.  Traders were disappointed Mexico took a small amount  just 4,700 MT and they were the largest buyer.

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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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