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Buy the dip in cattle and hogs?

Published on: 22:07PM Jan 22, 2019

Livestock Roundup

 

January 22, 2019

 
 

LEG9: -1.475 at 125.05, trading in a range of 1.175

LEJ8: -1.325 at 126.05, trading in a range of 1.325

GFF9: -.425 at 141.025, trading in a range of 1.275

GFH9: -1.275 at 141.55, trading in a range of 1.075

 

Cattle Commentary:  Cattle futures gaped lower to start the week, on the back of a less than impressive cash trade on Friday afternoon.  The bulk of cash came in near 124, for the most part this was steady with the previous week.  The market took another leg lower in the afternoon session on news that the U.S. had turned down the Chinese offer regarding trade.  For clients working closely with our trade desk, we used the second leg lower to reduce short exposure.  For those who are bullish the market, it is not a bad spot to start building a position.  Tomorrow’s Fed Cattle Exchange has 4,139 head offered, about 10x the weekly norm. 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 216.34 / 211.72

Change from prior day: / 1.08 / .86

Choice/Select spread: / 4.62

 

Tech Talk

 

Live Cattle (April)

 

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

 

 

Feeder Cattle (March)

 

Feeder cattle futures gaped lower to start the shortened week, trading to its....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

 

Lean Hogs (April)

 

April lean hogs finished the day in the red, but....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.