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Latest USDA Monthly Livestock Data Deemed Mostly Neutral for Hog Futures

26 November 2013
Jim Wyckoff Commentary -  TheCropSite

US - Last Friday afternoon's USDA cattle-on-Feed report was mostly in line with trade expectations and is being given a neutral reading by livestock market traders and analysts.

The Agriculture Department pegged U.S. cattle on placed feed as of November 1 at 10 per cent above year-ago levels.

The number of cattle on already feed as of November 1 was down around 6 per cent from November 1 of 2012. The cattle marketings figure was up one per cent from last year.

The USDA cold storage report showed frozen beef stocks just below market expectations, at 443.6 million pounds, 2 million pounds lower than last month but up three per cent from year-ago levels.

The cold storage report released Friday afternoon gets a neutral reading for lean hog futures, as frozen pork stocks as of October 31 totaled 566.7 million lbs., which was around 1.5 million lbs. more than traders expected but down around 1 million pounds from last month and down 6 per cent from last year's levels.

ThePigSite News Desk

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any traders and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): 1. Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.



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