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Futures Trading Opposite of Cash Hogs

MORNING LIVESTOCK OUTLOOK

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As an indicator boxed beef may be near a top, the 5 day moving average is now higher than the current price  But when sales were just 69 total loads and just 36 loads of Choice beef, it is an indication, not proof.  A week ago Choice beef was $345.06 and Friday morning it was $345.69 with biggest drop in primal sections  the Choice briskets pulling down the cutout.

Futures trading opposite of current cash hogs and pork markets.  Spreads continue to bull spread. Upside gap on October 2021 Lean Hogs at $89.97 was filled Friday with October Lean Hogs closing the week at $90.72.

Pork exports at 24,100MT are the level they need to average week after week.  Mexico came back this week, a good sign and they should remain strong through the end of the year.

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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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