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Cattle Market Outlook

Daily Livestock Outlook

Packers firmed up prices on Thursday from 50 cents to $1.00. Look for big Saturday kill. Live cattle steer weights have increased on 5 day average by 16 pounds.  Packers want to kill cattle. Beef movement was light on Thursday with only 123 loads shown on daily cutout.  Just a month ago moving 200 plus loads day after day.  More than likely beef is being heavily forward contracted into fall.

Feeder Cattle are in demand. Contract Feeders and Packers that feed their own cattle need cattle to fulfill beef needs that were contracted months ago and for months ahead from now.

Trade volume was light Thursday. Around 12:45PM central time the trade volume on October Hogs broke 10,000 contracts. In the last 5 minutes to 1:00PM settlement as hogs sold off the highs, over 3000 contracts were traded.

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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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