Are cattle set for another selloff?

Published on: 23:48PM Nov 12, 2018

LEZ8: .375 at 114.95, trading in a range of 1.275

LEG8: .30 at 118.10, trading in a range of 1.175

GFF9: -.175 at 143.625, trading in a range of 1.575

GFH9: -.50 at 141.675, trading in a range of 1.425

 

Cattle Commentary:  Cattle futures started the week on firmer footing, but for now is just a relief rally as today’s volume lacked conviction.  The bulk of cash cattle last week came in near 114 live and from 178-180 dressed, slightly softer than what we have seen recently.  Winter weather is being monitored as it could start to pose some issues in isolated areas.  With the board trading near cash, there is little to get excited about in this market.  If we see the market work towards key resistance levels, we will likely use that as an opportunity to sell (see our full technical analysis below). 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 215.55 / 200.39

Change from prior day: / .35 / 1.67

Choice/Select spread: / 15.16

 

Tech Talk

 

Live Cattle (December)

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Feeder Cattle (January)

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Lean Hogs (December)

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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.