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Open Interest in Cattle Increasing

MORNING LIVESTOCK FUTURES OUTLOOK

CATTLE COMPLEX 

Volume has been light as live cattle futures move higher with open interest increasing.  Kill is starting out lower compared to a week ago.  With packers buying fewer showlist cattle last week, a lower slaughter is anticipated.  Packers will tighten slaughter in order to keep beef prices up.  Slaughter this week will be near 600,000.

 

 

PORK COMPLEX 

There has been a buildup in open interest for Lean Hogs on light volume.  It is an alert to be cautious.  As reported last week, over past 10 years, 80% from mid-October the  prices are lower into December.  2024 may be the opposite, but controlling risk is a wise choice. The difference between the CME Lean Hog Index and the CME Pork Index is widening.  This is packer positive. If packers need to increase kill, they will pay up.

 

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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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