Cattle and Hog Outlook

Published on: 23:15PM Mar 05, 2019

Livestock Roundup

 

March 5, 2019

 
 

 Last Trades

 

LEJ9: .475 at 128.825, trading in a range of .975

LEM9: .075 at 119.875, trading in a range of .825

GFH9: -.375 at 140.825, trading in a range of .775

GFJ9:  -.60 at 144.425, trading in a range of .85

 

Cattle Commentary:  The market managed to rebound today on the back of technical support and stable fundamentals.  In the Tech Talk section of yesterday’s report, we said (regarding Monday’s pullback): “The pullback wasn’t concerning by any means, in fact we looked at it as an opportunity to work with clients in getting out of short positions and buying to go net long.”.   See our tech talk section below to see how today’s action changes the chart and our bias.  Cash trade has yet to develop, most are expecting steady to firm.  Tomorrows Fed Cattle Exchange has 300 head offered.    

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 224.04 / 217.79

Change from prior day: / .49 / .58

Choice/Select spread: / 6.25

 

Tech Talk

 

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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.