LEM8: 2.075 at 107.75, trading in a range of 3.125
LEQ8: 1.05 at 104.425, trading in a range of 2.275
GFK8: 1.60 at 138.75, trading in a range of 3.05
GFQ8: 1.30 at 144.00, trading in a range of 3.275
Cattle Commentary: Cattle futures started the session under pressure, posting their lows for the day within the first minute of trade. The market managed to grind higher through the remainder of the session, finishing the day near the top end of the range. Not only did cattle finish towards the top end of the day’s range, but they marked their highest price since March 23rd. There has been not much new news on the cash side which may have helped spur the buying interest. The lack of cash this week lends hand to the idea that we will be higher tomorrow; ultimately, we are looking for things to be fairly steady. Boxed beef was moderately higher today.
PM Boxed Beef / Choice / Select
Current Cutout Values: / 231.07 / 209.14
Change from prior day: / .11 / .19
Choice/Select spread: / 21.93
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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.