Livestock Markets Surge!

Published on: 21:14PM Feb 04, 2019

Livestock Roundup

 

February 4, 2019

 
 

LEG9: .20 at 125.65, trading in a range of 1.15

LEJ8: .575 at 126.85, trading in a range of 1.475

GFH9: 1.75 at 144.275, trading in a range of 2.75

GFJ9:  1.825 at 145.825, trading in a range of 2.375

 

Cattle Commentary:  In our weekend update we noted: “We finally got the break on Thursday, allowing us to reduce that short exposure and eventually look to the long side of things with clients on Friday morning.”.  We used the pop to the previous contract highs as a spot to reduce long exposure with clients and look back to the short side for fats and feeders.  Over the last few weeks our thesis has been a rangebound market, we continue to feel that way.  The bulk of cash trade Friday afternoon came in at 124 live and 199 dressed, this was 1-2 higher, helping support the market.  Boxed beef was up sharply today.

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 217.65 / 213.41

Change from prior day: / 3.39 / .26

Choice/Select spread: / 4.24

 

Tech Talk

 

Live Cattle (April)

 

April live cattle pressed up against the....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

 

Feeder Cattle (March)

 

In our Weekend Ag Update, we noted....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

 

Lean Hogs (April)

 

A heavy dose of short covering took April futures to....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

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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.