Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
Lean Hog trade volume on Tuesday was light to moderate with June by far the most traded month. Lean Hogs from June on out aren’t packers buying hogs. They may be buying a few but they have been buying hogs and selling pork for months before the recent move to the upside. Since the March Hogs and Pigs report, June has gained close to $4.00 on April. The December 2023-February 2024 pig crop was up 2 percent from last year.
LIVE CATTLE
Trade volume was light to moderate Monday and Tuesday. Since Friday’s close April Live Cattle are up $2.45 as it nears closer to cash. Last week, cash cattle in the Southwest traded $184.00 and cash cattle in the Midwest $187.00 with steers averaging in the U.S. at $185.89. So far no cash cattle have been sold as of Tuesday. Packers are going to try to buy cattle cheaper and feedlots are asking for prices back to a week ago with asking prices 189.00 to $190.00 in the Midwest claiming packers are short bought.
>>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.
