Will cattle and hogs breakout soon?

Published on: 22:29PM Oct 29, 2018

Livestock Roundup

 

October 29, 2018

 
 

Last Trades:

 

LEZ8: -.95 at 117.45, trading in a range of 1.725

LEG8: -.55 at 122.90, trading in a range of 1.125

GFF9: .275 at 149.975, trading in a range of 1.05

GFH9: .325 at 148.15, trading in a range of 1.00

 

Cattle Commentary:  Cattle futures opened the week on the softer side, working lower through the morning and into the afternoon session with little reprieve until the final minutes.  The bulk of cash trade last week came in from 114-115, much of which was likely priced in from the high expectations set early last week.  In last Tuesday’s Livestock Roundup, we said: “we could see a $2-$3 jump this week”.  With cash reaching expectations and the board at a premium, we see little juice left in the grape at the top end of resistance.  Keep in mind that when cash is actually reported, it has already been priced into the market.  Put more weight into the expectations than the actual print.  Volatility in the stock market picked up after the close, if that continues through the night then we would expect to see additional pressure on cattle in the morning. 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 213.76 / 201.11

Change from prior day: / .29 / 2.28

Choice/Select spread: / 12.65

 

 

Tech Talk

 

 

Live Cattle (December)  Click this link to get our full commentary delivered to your email.

 

 

Feeder Cattle (January)  Click this link to get our full commentary delivered to your email.

 

 

Lean Hogs (December)  Click this link to get our full commentary delivered to your email.

 

 

 

Algo Trading Systems

 

Check out one of our live cattle algo trading systems: Live Cattle Algo System

 

Check out one of our lean hog algo trading systems: Lean Hog Algo System

 

 

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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.