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Slow Trading in Cattle

Livestock Outlook

Ahead of this afternoon’s report, likely cattle futures trading will be slow. Cash markets this week $2 or more higher. Showlists are light and packers are making big money. At this time there isn’t too much to be bullish about.  Of course the report could offer a surprise like bigger placements, but I don’t see that happening

All hogs and pigs as of September 1 up 1 % is no surprise since Federal slaughter is now slightly over it compared to same period a year ago.  Breeding herd at 98 may in near term be construed as slightly negative because of high side of estimates, but fewer hogs if pork demand remains strong is still fewer hogs and is friendly.  Market inventory at 101 was a fraction above estimates and may be slightly negative, but with demand for pork , the report is neutral in the long run unless pork  demand falls out of bed. Market inventory down 1 percent from last quarter goes along with my expectations there were sows aborted and not bread March and part of April.

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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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