Mixed Livestock Markets
Livestock AM Outlook
Packers and feedlots are back to times before COVID 19 and pricing cattle late in the week. So far this week there have been a few scattered cash cattle sales at $108.00 with a few at $108.50 and dressed at $169.00. Feedlots are holding for $109.00 to $110 and $170.00 to $171.00 dressed.
Hams that have been the reason pork cutout has gained as of Thursday are about $5.00 lower than they closed a week ago. Pork movement on the daily cutout has been moderate. How packers are selling and have forward contracted it is the big secret. Record exports to China from the US in 2020 and record exports from Brazil need to continue to keep momentum.
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.