The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
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The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Commodity markets and the information that moves them is constantly changing making it almost impossible to keep up. The Blue Line Express is a valuable resource written by, Blue Line Futures, for hedgers and traders that provides the latest and most pertinent news and technical analysis. Take one stop on the Blue Line Express for daily fundamental and technical analysis so you can make better informed decisions.
Last Trades:
LEQ8: .225 at 109.175, trading in a range of .75
LEV8: .225 at 110.875, trading in a range of .90
GFQ8: .05 at 154.50, trading in a range of 1.125
GFU8: .20 at 154.85, trading in a range of 1.025
Cattle Commentary: A lack of new news led cattle futures to trad in a relatively tight range today, chopping around narrowly on both sides of unchanged. Some market participants may be sitting on their hands or tying up loose ends ahead of tomorrow’s Cattle on Feed report. Estimates for on feed range from 102.7-105.8, the average being 104.1. Placement estimates range from 95.5-106.6, the average being 101.3. Marketings range from 98.6-106.7, the average being 100.8. Cash trade this week has been fairly mute, we did get some 112 on the FCE (Fed Cattle Exchange) yesterday, with another pen at 111 passed on. On the technical side of things, the market is not in overbought territory but is towards the high end of the years RSI range. See the rest of the technicals by clicking the link below!
PM Boxed Beef / Choice / Select
Current Cutout Values: / 204.49 / 196.92
Change from prior day: / (.31) / (.17)
Choice/Select spread: / 7.57
Live Cattle (August)
Resistance: 110.175-110.50****, 112.25-112.925***, 115.30-115.70****
Pivot: 109.05
Support: 107.55-107.775***, 105.35-105.65**, 102.40-102.60***
Feeder Cattle (August)
Resistance: 155.50-155.975****, 159.20-160.00****
Support: 151.15**, 149.075-150.00**, 147.825-148.15**
Lean Hog Commentary and Technicals (August)
Resistance: 70.475**, 72.45****
Support: 64.00-64.50**
If you would like to discuss the markets in more depth or have questions,
please call or email Oliver at 312-837-3938; 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.
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