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.
LEG9: .875 at 122.425, trading in a range of 1.725
LEJ8: .675 at 124.525, trading in a range of 1.50
GFF9: .85 at 146.225 trading in a range of 2.025
GFH9: .875 at 144.20 trading in a range of 2.25
Cattle Commentary: As mentioned yesterday several times (RFD-TV, Rural Radio, KDHN Radio, and our Livestock Roundup), we like using the pullback in live cattle as a buying opportunity. The market held technical support nearly perfectly and rebounded to close in our resistance pocket which we defeind as 122.20-122.55, this was an area to reduce long exposure if you had bought. We do think the market can continue higher but are tempering our expectations, especially ahead of this week’s Cattle on Feed report and a holiday. The Cattle on Feed report will be out Thursday at 2pm cst; early estimates are as follows: On Feed: 101.6%, Placements: 92.5%, and Marketings: 100.7%.
PM Boxed Beef / Choice / Select
Current Cutout Values: / 212.68 / 204.73
Change from prior day: / .01 / .97
Choice/Select spread: / 7.95
Tech Talk
Live Cattle (February)
Feeder Cattle (January)
Feeder cattle managed to....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.
Lean Hogs (April)
April lean hogs....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.
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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