Net Export Sales For Hogs Drop
MORNING LIVESTOCK OUTLOOK
Net export sales for hogs have started to drop. Net sales as of December 1st were 7,900 MT for 2022 and Net sales were 2,400 MT for 2023. Mexico took 3100 MT for 2022 and none for 2023. However, it isn’t unusual to see Mexico back off this time of the year but it was disappointing to see they reduced purchases by 4,000 MT for 2022.
Over the past 5 days Choice boxed beef has bounced like a yoyo led by Choice primal ribs. What does the fluctuation mean. First of all, a few buyers needed rib and loins and paid what the seller asked. But more importantly, it says don’t pay a lot of attention to daily beef movement because total loads sold are just a miniscule part of all beef moved.
Learn more about Chris Lehner here
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.