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Lower Livestock Futures

Movement of beef has slowed. Consumers are buying lower cost meat cuts and watching what they spend. July is normally a slow time for beef and with high unemployment.  The US is facing continued competition for beef exports and imports into the US.  With the increasing weight and weekly slaughter above a year ago, it is hard to see markets moving higher.

Compared to last week: Feeder Steers steady to 5.00 higher, largest advance under 850 lbs.  Steer calves steady to 3.00 higher, 5 weights up to 8.00 higher.  Feeder Heifers and Heifer calves 2.00-5.00 higher. Demand very good for all classes.

Pork carcass started out Monday higher with hams gaining early 9.88 but by the end of the day hams giving up early gains and settled the day down 2.16. Bellies did the same. Early in the day bellies were up 9.89 but end the day down 2.98 cents.  Loins ended the day down 95 cents.  Movement was light to moderate and lighter than it has been over the past month.

China the first half of the year has booked in excess pork exports and has filled storage. Prices for hogs have been dropping. It is likely China has secured the storage they wanted to build since plans went into effect early 2019.

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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