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A Bottom for Cattle?

Published on: 00:07AM May 08, 2019

Livestock Roundup

 

May 7, 2019

 
 

Last Trades

LEM9: .125 at 112.40, trading in a range of .95

LEQ9: .60 at 109.00, trading in a range of .975

GFK9: 1.50 at 137.525, trading in a range of 1.775

GFQ9: 1.30 at 145.65, trading in a range of 2.25

 

 

Cattle Commentary: cattle futures managed to finish the day in positive territory for the first time in 12 sessions. The cash cattle trade started to pick up this afternoon with reports of 122 in the north and 120 in Kansas and Texas, softer than last week but seemingly inline with what the board had been pricing in. We think that there is tremendous value as we head into the back half of this week’s trade with the idea that cash has done its job to narrow basis, now the board needs to put in a little work. With that said, outside factors will be a lingering concern for the remainder of the week, majority of that focused around trade negotiations and how that might affect outside markets.

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 223.87 / 211.83

Change from prior day: / (3.13) / (2.15)

Choice/Select spread: / 12.04

 

Tech Talk

 

Live Cattle (June)

 

Cattle futures managed to....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com

 

 

Feeder Cattle (August)

 

Feeder cattle....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com

 

 

Lean Hogs (June)

 

Over the last two months I have often referred to the lean hog market as the “crack head” market, it earned it today. The last....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com

 

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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