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Price Movement Depends on Exports

MORNING LIVESTOCK OUTLOOK

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Traders are rolling out of October to December and  into 2022 Live Cattle as well as outright selling futures.  October settled at $123.75 , down $1.05 on Tuesday, and down to the lows of the first week of June.

Hog price movement will depend on exports. Last week the  33,500 net sale exports were good.  Mexico is supporting the pork exports but need to see pick up from Japan.  China may buy at some time but with increasing hog numbers in China as well as Brazil, the EU and Russia don’t expect long term big buying if China decides to re-stock their coolers at some point with US pork.

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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