Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Two solid weeks of exports are good. Both weeks are what beef exports need to average for the week.
Packers paid $175.00 Thursday up $1.00 to $2.00 or cattle purchased in Kansas, Texas, Oklahoma and New Mexico on Wednesday. In the Midwest cattle sold from $175.00 up to 177.50 with average prices $175.50. Dressed cattle sold up to $277.00 to $278.00 up $2.00 to some instances $4.00 higher from a week ago. Last week dressed cattle were mostly $275.00 to $277.00.
LEAN HOGS
February 2024 Lean Hogs are $5.25 above the CME Lean Hog Index with about 3 weeks before February Lean Hogs settle and prices converge. There is a lot of time for cash to go up or futures to come down. As of Friday, the 5 day pork carcass was up $1.08 for the week. The belly market was the reason the carcass was up with bellies gaining $14.51. Bellies are 16% to 17% of the cutout. Loins on the 5 day average were up 5 cents, Hams were down $4.91. Butts lost $3.16. Picnics were down 27 cents and Ribs were up $3.40.
>>Read full report here
Interested in more futures markets? Explore our Market Dashboards here
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2021 ADM Investor Services International Limited.
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.
