The Top for Cattle and Hogs?

Published on: 22:28PM Mar 25, 2019

Livestock Roundup

 
 

March 25, 2019

 
 

 Last Trades

 

LEJ9: -2.05 at 127.675 trading in a range of 1.60

LEM9: -2.275at 121.225, trading in a range of 1.975

GFJ9: -2.275 at 146.525, trading in a range of 2.825

GFK9:  -3.075 at 150.975, trading in a range of 3.275

 

Cattle Commentary:  Friday’s bearish Cattle on Feed report led to a gap lower on the open this morning, keeping the bulls on the defensive for the whole session.  That report showed cattle on feed at 100.7%, vs estimates of 99.7%.  Placements at 102.2%, vs estimates of 96%.  Marketings at 100.5%, vs estimates of 100.8%.  Cash trade started ramping up Friday afternoon with 128 kicking things off in the south, in the north cash traded 129-130 live and 208 dressed.  Friday’s Commitment of Traders report showed that funds bought 16,446 contracts through March 19th, extending their net long position to 145,159 futures/options.  This is near record length, which leads us to believe that there may not be that much juice left in this grape (for the near term). 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 228.67 / 218.63

Change from prior day: / (.66) / (.83)

Choice/Select spread: / 10.04

 

Tech Talk

 

 

Live Cattle (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Today’s move lower erased gains from the previous week and leaves the chart looking suspect at best.  We would not be surprised to see....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Feeder Cattle (May)

Please note that we have moved to the more actively traded May contract for our Tech Talk section.

 

May feeder cattle tested the contract highs from October but fell short of breaking out, instead it appears we have a potential double top on our hands.  The volatility has expanded over the last week as money flow in the livestock sector has been pushing and pulling in all directions, much of that stemming from lean hogs.  First technical support tomorrow comes in from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Lean Hogs (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Lean hogs finished the session mixed with all the months finishing all over the board.  As far as meaningful technicals go, it’s nearly impossible to lay out support and resistance levels with any real convictions.  So, unlike most analysts, we will do our readers/clients right and tell you we have no idea what’s next for lean hogs.  Sure, the market is overbought, but it was in 2014 when we rallied for two months straight.  Over the past few months we had suggested buying call options, those premiums are now to inflated to make that a viable option.  If you don’t have any skin in the game, we would recommend sitting on the sidelines for the time being.

 

Sign up for a FREE trial of 1 or all 4 of our daily commodity reports!

-Grains

-Livestock

-Currencies

-S&P, Oil, Gold

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.

 

 
 
 

Livestock Roundup

 

March 25, 2019

 
 

 Last Trades

 

LEJ9: -2.05 at 127.675 trading in a range of 1.60

LEM9: -2.275at 121.225, trading in a range of 1.975

GFJ9: -2.275 at 146.525, trading in a range of 2.825

GFK9:  -3.075 at 150.975, trading in a range of 3.275

 

Cattle Commentary:  Friday’s bearish Cattle on Feed report led to a gap lower on the open this morning, keeping the bulls on the defensive for the whole session.  That report showed cattle on feed at 100.7%, vs estimates of 99.7%.  Placements at 102.2%, vs estimates of 96%.  Marketings at 100.5%, vs estimates of 100.8%.  Cash trade started ramping up Friday afternoon with 128 kicking things off in the south, in the north cash traded 129-130 live and 208 dressed.  Friday’s Commitment of Traders report showed that funds bought 16,446 contracts through March 19th, extending their net long position to 145,159 futures/options.  This is near record length, which leads us to believe that there may not be that much juice left in this grape (for the near term). 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 228.67 / 218.63

Change from prior day: / (.66) / (.83)

Choice/Select spread: / 10.04

 

Tech Talk

 

 

Live Cattle (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Today’s move lower erased gains from the previous week and leaves the chart looking suspect at best.  We would not be surprised to see....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Feeder Cattle (May)

Please note that we have moved to the more actively traded May contract for our Tech Talk section.

 

May feeder cattle tested the contract highs from October but fell short of breaking out, instead it appears we have a potential double top on our hands.  The volatility has expanded over the last week as money flow in the livestock sector has been pushing and pulling in all directions, much of that stemming from lean hogs.  First technical support tomorrow comes in from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Lean Hogs (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Lean hogs finished the session mixed with all the months finishing all over the board.  As far as meaningful technicals go, it’s nearly impossible to lay out support and resistance levels with any real convictions.  So, unlike most analysts, we will do our readers/clients right and tell you we have no idea what’s next for lean hogs.  Sure, the market is overbought, but it was in 2014 when we rallied for two months straight.  Over the past few months we had suggested buying call options, those premiums are now to inflated to make that a viable option.  If you don’t have any skin in the game, we would recommend sitting on the sidelines for the time being.

 

Sign up for a FREE trial of 1 or all 4 of our daily commodity reports!

-Grains

-Livestock

-Currencies

-S&P, Oil, Gold

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.

 

 
 

Livestock Roundup

 

March 25, 2019

 
 

 Last Trades

 

LEJ9: -2.05 at 127.675 trading in a range of 1.60

LEM9: -2.275at 121.225, trading in a range of 1.975

GFJ9: -2.275 at 146.525, trading in a range of 2.825

GFK9:  -3.075 at 150.975, trading in a range of 3.275

 

Cattle Commentary:  Friday’s bearish Cattle on Feed report led to a gap lower on the open this morning, keeping the bulls on the defensive for the whole session.  That report showed cattle on feed at 100.7%, vs estimates of 99.7%.  Placements at 102.2%, vs estimates of 96%.  Marketings at 100.5%, vs estimates of 100.8%.  Cash trade started ramping up Friday afternoon with 128 kicking things off in the south, in the north cash traded 129-130 live and 208 dressed.  Friday’s Commitment of Traders report showed that funds bought 16,446 contracts through March 19th, extending their net long position to 145,159 futures/options.  This is near record length, which leads us to believe that there may not be that much juice left in this grape (for the near term). 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 228.67 / 218.63

Change from prior day: / (.66) / (.83)

Choice/Select spread: / 10.04

 

Tech Talk

 

 

Live Cattle (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Today’s move lower erased gains from the previous week and leaves the chart looking suspect at best.  We would not be surprised to see....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Feeder Cattle (May)

Please note that we have moved to the more actively traded May contract for our Tech Talk section.

 

May feeder cattle tested the contract highs from October but fell short of breaking out, instead it appears we have a potential double top on our hands.  The volatility has expanded over the last week as money flow in the livestock sector has been pushing and pulling in all directions, much of that stemming from lean hogs.  First technical support tomorrow comes in from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Lean Hogs (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Lean hogs finished the session mixed with all the months finishing all over the board.  As far as meaningful technicals go, it’s nearly impossible to lay out support and resistance levels with any real convictions.  So, unlike most analysts, we will do our readers/clients right and tell you we have no idea what’s next for lean hogs.  Sure, the market is overbought, but it was in 2014 when we rallied for two months straight.  Over the past few months we had suggested buying call options, those premiums are now to inflated to make that a viable option.  If you don’t have any skin in the game, we would recommend sitting on the sidelines for the time being.

 

Sign up for a FREE trial of 1 or all 4 of our daily commodity reports!

-Grains

-Livestock

-Currencies

-S&P, Oil, Gold

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.

 

 
 
 

Livestock Roundup

 

March 25, 2019

 
 

 Last Trades

 

LEJ9: -2.05 at 127.675 trading in a range of 1.60

LEM9: -2.275at 121.225, trading in a range of 1.975

GFJ9: -2.275 at 146.525, trading in a range of 2.825

GFK9:  -3.075 at 150.975, trading in a range of 3.275

 

Cattle Commentary:  Friday’s bearish Cattle on Feed report led to a gap lower on the open this morning, keeping the bulls on the defensive for the whole session.  That report showed cattle on feed at 100.7%, vs estimates of 99.7%.  Placements at 102.2%, vs estimates of 96%.  Marketings at 100.5%, vs estimates of 100.8%.  Cash trade started ramping up Friday afternoon with 128 kicking things off in the south, in the north cash traded 129-130 live and 208 dressed.  Friday’s Commitment of Traders report showed that funds bought 16,446 contracts through March 19th, extending their net long position to 145,159 futures/options.  This is near record length, which leads us to believe that there may not be that much juice left in this grape (for the near term). 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 228.67 / 218.63

Change from prior day: / (.66) / (.83)

Choice/Select spread: / 10.04

 

Tech Talk

 

 

Live Cattle (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Today’s move lower erased gains from the previous week and leaves the chart looking suspect at best.  We would not be surprised to see....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Feeder Cattle (May)

Please note that we have moved to the more actively traded May contract for our Tech Talk section.

 

May feeder cattle tested the contract highs from October but fell short of breaking out, instead it appears we have a potential double top on our hands.  The volatility has expanded over the last week as money flow in the livestock sector has been pushing and pulling in all directions, much of that stemming from lean hogs.  First technical support tomorrow comes in from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Lean Hogs (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Lean hogs finished the session mixed with all the months finishing all over the board.  As far as meaningful technicals go, it’s nearly impossible to lay out support and resistance levels with any real convictions.  So, unlike most analysts, we will do our readers/clients right and tell you we have no idea what’s next for lean hogs.  Sure, the market is overbought, but it was in 2014 when we rallied for two months straight.  Over the past few months we had suggested buying call options, those premiums are now to inflated to make that a viable option.  If you don’t have any skin in the game, we would recommend sitting on the sidelines for the time being.

 

Sign up for a FREE trial of 1 or all 4 of our daily commodity reports!

-Grains

-Livestock

-Currencies

-S&P, Oil, Gold

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.

 

 
 
 

Livestock Roundup

 

March 25, 2019

 
 

 Last Trades

 

LEJ9: -2.05 at 127.675 trading in a range of 1.60

LEM9: -2.275at 121.225, trading in a range of 1.975

GFJ9: -2.275 at 146.525, trading in a range of 2.825

GFK9:  -3.075 at 150.975, trading in a range of 3.275

 

Cattle Commentary:  Friday’s bearish Cattle on Feed report led to a gap lower on the open this morning, keeping the bulls on the defensive for the whole session.  That report showed cattle on feed at 100.7%, vs estimates of 99.7%.  Placements at 102.2%, vs estimates of 96%.  Marketings at 100.5%, vs estimates of 100.8%.  Cash trade started ramping up Friday afternoon with 128 kicking things off in the south, in the north cash traded 129-130 live and 208 dressed.  Friday’s Commitment of Traders report showed that funds bought 16,446 contracts through March 19th, extending their net long position to 145,159 futures/options.  This is near record length, which leads us to believe that there may not be that much juice left in this grape (for the near term). 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 228.67 / 218.63

Change from prior day: / (.66) / (.83)

Choice/Select spread: / 10.04

 

Tech Talk

 

 

Live Cattle (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Today’s move lower erased gains from the previous week and leaves the chart looking suspect at best.  We would not be surprised to see....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Feeder Cattle (May)

Please note that we have moved to the more actively traded May contract for our Tech Talk section.

 

May feeder cattle tested the contract highs from October but fell short of breaking out, instead it appears we have a potential double top on our hands.  The volatility has expanded over the last week as money flow in the livestock sector has been pushing and pulling in all directions, much of that stemming from lean hogs.  First technical support tomorrow comes in from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Lean Hogs (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Lean hogs finished the session mixed with all the months finishing all over the board.  As far as meaningful technicals go, it’s nearly impossible to lay out support and resistance levels with any real convictions.  So, unlike most analysts, we will do our readers/clients right and tell you we have no idea what’s next for lean hogs.  Sure, the market is overbought, but it was in 2014 when we rallied for two months straight.  Over the past few months we had suggested buying call options, those premiums are now to inflated to make that a viable option.  If you don’t have any skin in the game, we would recommend sitting on the sidelines for the time being.

 

Sign up for a FREE trial of 1 or all 4 of our daily commodity reports!

-Grains

-Livestock

-Currencies

-S&P, Oil, Gold

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.

 

Livestock Roundup

 

March 25, 2019

 
 

 Last Trades

 

LEJ9: -2.05 at 127.675 trading in a range of 1.60

LEM9: -2.275at 121.225, trading in a range of 1.975

GFJ9: -2.275 at 146.525, trading in a range of 2.825

GFK9:  -3.075 at 150.975, trading in a range of 3.275

 

Cattle Commentary:  Friday’s bearish Cattle on Feed report led to a gap lower on the open this morning, keeping the bulls on the defensive for the whole session.  That report showed cattle on feed at 100.7%, vs estimates of 99.7%.  Placements at 102.2%, vs estimates of 96%.  Marketings at 100.5%, vs estimates of 100.8%.  Cash trade started ramping up Friday afternoon with 128 kicking things off in the south, in the north cash traded 129-130 live and 208 dressed.  Friday’s Commitment of Traders report showed that funds bought 16,446 contracts through March 19th, extending their net long position to 145,159 futures/options.  This is near record length, which leads us to believe that there may not be that much juice left in this grape (for the near term). 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 228.67 / 218.63

Change from prior day: / (.66) / (.83)

Choice/Select spread: / 10.04

 

Tech Talk

 

 

Live Cattle (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Today’s move lower erased gains from the previous week and leaves the chart looking suspect at best.  We would not be surprised to see....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Feeder Cattle (May)

Please note that we have moved to the more actively traded May contract for our Tech Talk section.

 

May feeder cattle tested the contract highs from October but fell short of breaking out, instead it appears we have a potential double top on our hands.  The volatility has expanded over the last week as money flow in the livestock sector has been pushing and pulling in all directions, much of that stemming from lean hogs.  First technical support tomorrow comes in from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Lean Hogs (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Lean hogs finished the session mixed with all the months finishing all over the board.  As far as meaningful technicals go, it’s nearly impossible to lay out support and resistance levels with any real convictions.  So, unlike most analysts, we will do our readers/clients right and tell you we have no idea what’s next for lean hogs.  Sure, the market is overbought, but it was in 2014 when we rallied for two months straight.  Over the past few months we had suggested buying call options, those premiums are now to inflated to make that a viable option.  If you don’t have any skin in the game, we would recommend sitting on the sidelines for the time being.

 

Sign up for a FREE trial of 1 or all 4 of our daily commodity reports!

-Grains

-Livestock

-Currencies

-S&P, Oil, Gold

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.

 

 

Livestock Roundup

 

March 25, 2019

 
 

 Last Trades

 

LEJ9: -2.05 at 127.675 trading in a range of 1.60

LEM9: -2.275at 121.225, trading in a range of 1.975

GFJ9: -2.275 at 146.525, trading in a range of 2.825

GFK9:  -3.075 at 150.975, trading in a range of 3.275

 

Cattle Commentary:  Friday’s bearish Cattle on Feed report led to a gap lower on the open this morning, keeping the bulls on the defensive for the whole session.  That report showed cattle on feed at 100.7%, vs estimates of 99.7%.  Placements at 102.2%, vs estimates of 96%.  Marketings at 100.5%, vs estimates of 100.8%.  Cash trade started ramping up Friday afternoon with 128 kicking things off in the south, in the north cash traded 129-130 live and 208 dressed.  Friday’s Commitment of Traders report showed that funds bought 16,446 contracts through March 19th, extending their net long position to 145,159 futures/options.  This is near record length, which leads us to believe that there may not be that much juice left in this grape (for the near term). 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 228.67 / 218.63

Change from prior day: / (.66) / (.83)

Choice/Select spread: / 10.04

 

Tech Talk

 

 

Live Cattle (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Today’s move lower erased gains from the previous week and leaves the chart looking suspect at best.  We would not be surprised to see....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Feeder Cattle (May)

Please note that we have moved to the more actively traded May contract for our Tech Talk section.

 

May feeder cattle tested the contract highs from October but fell short of breaking out, instead it appears we have a potential double top on our hands.  The volatility has expanded over the last week as money flow in the livestock sector has been pushing and pulling in all directions, much of that stemming from lean hogs.  First technical support tomorrow comes in from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

Lean Hogs (June)

Please note that we have moved to the more actively traded June contract for our Tech Talk section.

 

Lean hogs finished the session mixed with all the months finishing all over the board.  As far as meaningful technicals go, it’s nearly impossible to lay out support and resistance levels with any real convictions.  So, unlike most analysts, we will do our readers/clients right and tell you we have no idea what’s next for lean hogs.  Sure, the market is overbought, but it was in 2014 when we rallied for two months straight.  Over the past few months we had suggested buying call options, those premiums are now to inflated to make that a viable option.  If you don’t have any skin in the game, we would recommend sitting on the sidelines for the time being.

 

Sign up for a FREE trial of 1 or all 4 of our daily commodity reports!

-Grains

-Livestock

-Currencies

-S&P, Oil, Gold

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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