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Spread Wide in Hogs

Livestock Outlook

The spread between cash direct hogs and formula hogs is the reason CME Index is so high. Last spring it happened when packers took contract and formula hogs first. Moving into December it is likely cash and formula contract could converge with formula hogs dropping to cash market.

Ahead, cattle buyers will need to pay up for cattle that meet specifications for the previously contracted beef and then deeper discount cattle that aren’t the grade and weight needed.

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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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