Highs and Lows - Cattle and Hogs?

Published on: 23:25PM Jan 28, 2019

Livestock Roundup

 

January 28, 2019

 
 

LEG9: .425 at 126.475, trading in a range of 1.025

LEJ8: .475 at 127.325, trading in a range of 1.15

GFH9: .825 at 144.45, trading in a range of 1.75

GFJ9: .95 at 145.675, trading in a range of 1.65

 

Cattle Commentary:  Cattle futures were mixed in the morning with the bulk of cash trade last week came in from 122-123 live, which was softer than the previous week and below a lot of expectations.  Dressed came in at 197.  Though we thought this was a disappointment, today’s futures board thought differently with the February contract rallying to 126.475.  An arctic blast sweeping through the Midwest this week could have added extra support into what we think is a tired market.  By tired, we mean that we are expecting prices to trade in a more defined range, not necessarily fall apart. 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 217.40 / 211.60

Change from prior day: / .39 / (.42)

Choice/Select spread: / 5.79

 

Tech Talk

 

Live Cattle (April)

 

April live cattle....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 clawed back losses from Friday, which is....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 punched through....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.