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LEV8: -1.275 at 109.20, trading in a range of 1.70
LEZ8: -1.175 at 113.50, trading in a range of 1.575
GFU8: -1.725 at 149.275, trading in a range of 2.20
GFV8: -2.225 at 148.70, trading in a range of 2.775
Cattle Commentary: We have been turning more bearish over the past several sessions and finally caught a nice break on today’s open. Cattle futures rolled over on the open which shouldn’t come as much of a surprise after yesterday’s session. Cash bids today were coming in anywhere from 109-109.50. Today’s Fed Cattle Exchange sold 280 head at 109.50, the other pen of 79 was passed on with a tantalizing bid of 90. The monthly Cattle on Feed report will be released Friday afternoon. Average expectations are as follow: On Feed 104.5%, Placements 106.3%, Marketed 104.7%. Cold storage this afternoon came in at 485.007 million pounds.
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.