Livestock Prices Trend Higher
MORNING LIVESTOCK OUTLOOK
Livestock producers should anticipate, even though it might not happen, to have China or some country reject loads of US meat after finding COVID 19. For several months Argentina and Brazil have had loads of beef, pork, poultry and fish reject. Norway had fish rejected. This week COVID was found on frozen meat from New Zealand and South America and was rejected. As COVID 19 increases over the next few months in the northern hemisphere, anticipate it is highly possible to happen.
There was a lot of up and down over the past week on Lean Hog futures and the pork cutout but by the end of the week there was not much change. December hogs were 78 cents lower than last Friday, Nov 13th close. Feb hogs were up 78 cents, April up 20 cents and June was up 10 cents.
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.