Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
The year is starting out on a positive note. Pork prices compared to a week ago saw the CME Pork Index gained $1.43. The spread between the CME Lean Hog Index and the CME Pork Cutout Index was at $18.05 giving packers the incentive to push a few more hogs across the line. Kill for the week is also starting out larger than it did a year ago.
LIVE CATTLE
Beef prices have tumbled since the New Year. Consumers and retailers have all but stopped buying roasts to steaks favoring the lower prices cuts, ground beef and lower grades.
This is the first full week slaughter of 2024. Packers last week were well aware of the upcoming storms and decided to not push kill. They know the beef needed to fill contracted beef orders and must not need as much beef as they have in the past. Certainly the falling beef prices indicate less demand with larger loads of beef in the daily market at lower prices.
>>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.
