LEG9: -1.075 at 125.075, trading in a range of 2.40
LEJ8: -1.70 at 126.35, trading in a range of 3.35
GFH9: -1.825 at 142.475, trading in a range of 3.175
GFJ9: -1.625 at 144.20, trading in a range of 2.85
Cattle Commentary: Unfortunately, we had to cancel our weekly “2 Minute Drill” and interview with RFD-TV today to make ourselves available for clients during the increased volatility. If you’ve been reading our daily Livestock Roundup, you know that we have been skeptical of the potential upside. We may have been a little premature, but proper position sizing/leverage allowed us to sit through the grind higher in the first half of the week. The move higher this morning tested our patience, but patience paid off as we had a huge reversal off of the highs, not only eliminating early morning gains, but eliminating gains from the previous 6 sessions. With the price action we saw into the close, we would not be surprised to see a continuation lower to start tomorrows session. With that said, there is good technical support coming in from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]
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