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Higher AM Livestock Markets

Morning Livestock Outlook

China has suspended poultry imports from second U.S. plant over COVID-19.  China has suspended on last count 9 beef, pork and poultry plants in Brazil and Argentina. For the first half of 2020 China doubled the pork it bought in 2020 compared to previous 2019.

Cattle futures higher Tuesday with talk feedlots asking higher by $2.00 to $3.00 more than last week from $104 to $106.00. Showlists again this week are light which is odd because  several analysts claimed feedlots last week had overweight cattle and too many cattle.

Tuesday pork carcass started out 6.64 higher with big gains on all primal cuts with loins up 5.78, hams 7.76 higher and bellies leaping 15.63 higher. Movement was moderate.  Bellies were just up what they had lost Monday afternoon and loins gained $3 plus after Monday’s losses.

 

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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