LEG9: .475 at 125.60, trading in a range of .925
LEJ8: .50 at 126.575, trading in a range of 1.10
GFF9: 1.925 at 142.975, trading in a range of 2.125
GFH9: 1.95 at 143.45, trading in a range of 2.55
Cattle Commentary: In yesterday’s report we stated: “For those who are bullish the market, it is not a bad spot to start building a position.”. That worked out well as the market rallied today on technical support and renewed hopes for a firmer cash trade. Cash cattle started moving yesterday with some sales coming in at 122, today it worked higher with some 123 and 124 in the north. Today’s Fed Cattle Exchange sold 63/4003 head at 123. Though the rally is welcomed, there may not be a whole lot of juice left in the very near term.
PM Boxed Beef / Choice / Select
Current Cutout Values: / 217.21 / 212.04
Change from prior day: / .87 / .32
Choice/Select spread: / 5.17
Live Cattle (April)
April live cattle tested and held our first support pocket again, we have defined that as....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.
Feeder Cattle (March)
In yesterday’s report we stated: “If you have been short, you may consider reducing your position here. If you want to be long, this is the spot to consider building a position.”. As with live cattle, this worked well today. This has....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....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.