Little Change in Live Cattle Prices
MORNING LIVESTOCK OUTLOOK
Slaughter for the week was up 11,000 head at 629,000 but it is a light week. Year to date slaughter is down 153,000 head. Little change in price for Live Cattle futures April through August. Prices higher for fall and winter Live Cattle. Bull spreading on April/June and Bear spreading June/October. Cattle/Hog spread has cattle on hogs.
Compared to a week ago, the pork carcass price has changed little, hanging around $85.00 to $85.50. Futures have dropped with April over cash but with close to 6 weeks before April expiration, speculators have a lot of time to move markets especially spreads that are very wide at this time. Pork movement has been light and with negative margins, packers aren’t going to try to increase slaughter.
Learn more about Chris Lehner 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.