Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
With the past two weeks having higher cash and futures prices, there was a bullishness that has re-entered the feelings of many traders. It is the Hope phase. The big question is how long will Hope for higher prices last? Live Cattle are bear spread.
LEAN HOGS
Pork was down Wednesday on fairly large movement. The big problem, loins and hams. Loins on the 5 day average are $81.69 and on the daily market Wednesday dropped to $80.06. Hams on the 5 day average are cheap, cheap, cheap at $78.62 and on the daily market were $78.80. These products make up 53% to 54% of the hog and are considered the top products. Kill has been strong this week and the drop in pork is related to how many hogs are killed. The pork market can’t absorb increasing hog numbers.
Exports will need to be strong in 2024, above 2023.
>>Read full report here
Interested in more futures markets? Explore our Market Dashboards 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.
