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Slow Trading Likely for Cattle and Lean Hogs

Livestock Outlook

At first the Cold Storage Report appears negative being up 5% from previous month, but under the circumstances, with less meat than a year ago and heavier cattle this year it is a neutral to friendly report.

Beef had gain on Choice rib sections but weakness on loins.  Choice chucks and rounds higher.  Spread narrowed between Choice and Select.  Demand for lower grade beef remains strong. A little too soon for high end Choice to move higher into November and December.

Pork cutout was down 1.43 Tuesday afternoon after being up 4.17 in the early sales. Whoever was being squeezed over the past 2 weeks in hams and bellies must have thrown in the towel by the afternoon because hams went from $99.39 in the morning to $79.15 on afternoon sales.  Hams have been driver behind surge in pork.  Loins did do well Tuesday up $5.42 from Monday.

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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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