Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Choice boxed beef prices continue to fall, actually tumble and are being taken down as Choice primal ribs and Choice briskets fall the most. Last week primal loins broke. Choice beef is also falling faster than Select. August Live Cattle made a significant daily low on June 21st at $168.10 and made a new contract high Thursday, July 20th at $182.97 for August. The 10 day exponential moving average was the low for August through February 2024 and closing prices either on or above the 5 day moving average.
LEAN HOGS
Hogs moved up to highs where they broke down. Volume was light on August, moderate on October and light for December on out. Closing above Thursday’s highs would be significant. Spreaders have been buying August and selling October, bull spreading
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.
