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Daily Livestock Technicals & Fundamentals (10.22.18)

Published on: 22:18PM Oct 22, 2018

Last Trades:

LEZ8: 1.50 at 118.275, trading in a range of 1.05

LEG8: 1.525 at 122.675, trading in a range of 1.025

GFX8: 2.90 at 157.00, trading in a range of 1.80

GFF8: 2.925 at 151.675, trading in a range of 2.25

 

Cattle Commentary:  Cattle futures came out of the gates with a bang, posting their highs for the day in the first 10 minutes.  Today’s enthusiasm came on the back of Friday afternoon’s Cattle on Feed report, which as you can guess came in on the friendly side of things.  The report showed, on feed at 105%, placements at 95%, and marketings at 96%.  Cash trade has been steady for the better part of the last month, with the bulk of it coming in from 110-111.  Though the Cattle on Feed report was friendly, we do not believe cash will go screaming higher.  With this in mind, we may see the enthusiastic buyers temper their expectations towards the top end of the technical range (see the full technical breakdown below).  This afternoon’s Cold Storage report for beef came in at 508.560 million pounds, up 3% from last year. 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 209.28 / 197.66

Change from prior day: / 1.35 / 3.42

Choice/Select spread: / 11.62

 

 

Tech Talk

 

Live Cattle (December):  Click this link to get our full commentary.

 

 

 

Feeder Cattle (November):  Click this link to get our full commentary.

 

 

 

 

Lean Hogs (December):  Click this link to get our full commentary.

 

 

-If you have questions about our services or would like to discuss the markets in more depth, please feel free to email Oliver@BlueLineFutures.com, or call/text

312-837-3938.

 

 

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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.