Livestock Update (4.17.19)

Published on: 20:21PM Apr 17, 2019

Livestock Roundup

 

April 17, 2019

 
 

 Last Trades

 

LEM9: .05 at 122.50, trading in a range of .875

LEQ9: .375 at 119.70, trading in a range of .725

GFK9: -.375 at 150.825, trading in a range of 1.35

GFQ9:  .475 at 160.675, trading in a range of 1.075

 

Cattle Commentary:  Live cattle futures staged an inside-day, trading within the previous day’s range.  The market felt on the heavy side for much of the session but caught a little bid in the final half-hour of trade as optimistic trade headlines hit the tape (again).  We would not be surprised to see a choppy trade tomorrow as we head into the Cattle on Feed report and long weekend.  Early estimates are as follow: On Feed: 101.8%, Placements: 103.8%, Marketed 96.8%.  Cash trade started to pick up today with the bulk of it coming in at 126 in Texas and Kansas, in line with what participants were looking for. 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 232.76 / 220.16

Change from prior day: / .71 / (.99)

Choice/Select spread: / 12.60

 

Tech Talk

 

 

Live Cattle (June)

 

The market tested....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

 

Feeder Cattle (May)

 

May feeder cattle failed to....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

 

Lean Hogs

 

Lean hogs were read for the first 4-months on the board as those front months continue to be extremely volatile.  In yesterday’s report we talked about looking out to the February contract as a better buying opportunity, that contract finished the day up 1.05.  This will continue to be an extremely difficult market to trade if you’re not comfortable with taking 5.00 swings against you.  So, if you can’t stomach the thought of that, look for opportunity elsewhere. 

 

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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.