LEM9: .025 at 109.775, trading in a range of 2.20
LEQ9: .125 at 107.05, trading in a range of 2.05
GFQ9: -.45 at 142.65, trading in a range of 3.15
GFU9: -.45 at 143.85, trading in a range of 3.175
Cattle Commentary: Cattle future firmed on the open as outside markets shrugged off trade uncertainty. The early morning rally failed to attract new buyers into the market which ultimately led to a technical failure (see full technical breakdown below). Cash trade has yet to get underway this week, but expectations are for cash to soften up yet again. Early bids are coming in around 116. Tomorrow’s Fed Cattle Exchange has 376 head offered. We continue to believe that the cash and board will work together and converge over the next month, but right now cash is doing the heavy lifting.
PM Boxed Beef / Choice / Select
Current Cutout Values: / 220.12 / 208.97
Change from prior day: / (1.46) / .08
Choice/Select spread: / 11.15
Live Cattle (June)
Today’s price action was.....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com
Feeder Cattle (August)
August feeder cattle made....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com
Lean Hog (June)
After trading limit down in the previous session, hogs did what they do best and used those expanded limits to trade higher. The news cycle is filled with flashy headlines which leads to hypersensitive markets. Yesterday’s end of the world trade fears subsided today which helped firm prices. The market has been....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com
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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.