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
LEM9: -.525 at 120.05, trading in a range of 1.075
LEQ9: -.375 at 117.35, trading in a range of .80
GFK9: -.65 at 149.925, trading in a range of 1.425
GFQ9: -.25 at 157.45, trading in a range of 1.275
Cattle Commentary: Cattle futures tried to rally early on in the session but failed to attract new buyers, prompting some minor pressure through the remainder of the session. There is a winter storm that is expected to sweep through the Midwest over the next two days, this has likely kept prices from rolling over the past two sessions. As mentioned in yesterday’s interview with RFD-TV, rallies will likely be opportunities to sell/hedge. Cash trade this week has yet to develop, but we would not be surprised to see prices come in steady with last week 123-124 in the south and 126-128 in the north. Tomorrow’s Fed Cattle Exchange has 510 offered.
PM Boxed Beef / Choice / Select
Current Cutout Values: / 228.32 / 218.80
Change from prior day: / (.35) / (2.08)
Choice/Select spread: / 9.52
Tech Talk
Live Cattle (June)
June live cattle....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.
Feeder Cattle (May)
May feeder cattle finished....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.
Lean Hogs
In yesterday’s report we talked about....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.
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