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Lower Livestock Outlook

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Boxed Beef movement on daily cutout is light but prices are improving. Beef is being forwarded contracted ahead of the mandatory reporting time. With wide spreads in Live Cattle between August and October, October and December… as markets near October on out unless boxed  beef demand continues to gain, look for futures months from October on out to drop as beef buyers have already secured needs.

Lean Hogs came off Thursday’s lows on Friday and moved up to resistance. During July, August Lean hogs were up $2.97, October Hogs up .27 cents, December hogs $1.35.

For the week compared to previous week pork carcass was down 5.22 and up 2.19 from June. Loins over the past week lost 5.22 and for the month were up 78 cents. Hams were down hard from a week ago off 17.79 and compared to a month ago 7.37. Bellies up 1.00 from a week ago and up 12.60 from end of June.

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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