Written Commentary
MORNING LIVESTOCK OUTLOOK
Compared to Monday volume on Live Cattle was slow. June GLOBEX volume was a little over half of it was Monday as cattle dropped. Recovery on Tuesday moved up to the convergence of the 20 and 100 day averages and not even trying to go into gap left from Friday’s low and Monday’s high and opening price.
Problems with Covid in Japan causing problems with global container shipping. Shanghai is largest container shipping port and covid continues to spread to more cities in China.
Traders will be waiting for Thursday’s exports. Last week’s net sales of only 12,900 metric tons were disappointing especially with Mexico taking just 4,700 metric tons and also decreasing the purchase 700 metric tons.
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.
