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How High Can Hogs Go?


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Livestock Roundup

March 18, 2019


Last Trades


LEJ9: -.675 at 128.425 trading in a range of 1.50

LEM9: .725 at 122.65, trading in a range of 1.125

GFH9: .325 at 141.65, trading in a range of 1.25

GFJ9: -.50 at 146.425, trading in a range of 1.225


Cattle Commentary:Cattle futures were mixed to start the week with front month futures under pressure but deferreds mounting a rally. We would not be surprised to see additional pressure come into the April contract this week, following last weeks lack luster cash trade and somewhat mute expectations to start this week. Weather has certainly caused disruptions throughout Nebraska, but the packers dont seem to be in a pinch. A monster rally in hog futures has likely played a role in price action and money flow.


PM Boxed Beef / Choice / Select

Current Cutout Values: / 228.33 / 218.21

Change from prior day: / 1.34 / .87

Choice/Select spread: / 10.12


Tech Talk


Live Cattle (April)


April live cattle opened higher but spent little time trading in that positive territory. Todays high marks lower highs, an area that....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.


Feeder Cattle (April)


April feeder cattle started the week on softer ground, trading in a....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 hog futures continued higher, narrowing the spread with deferred months. As mentioned in our Weekend Ag Update, expect volatility to continue. We also mentioned....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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About the author


Oliver Sloup is Vice President of Blue Line Futures, a leading futures and commodities brokerage firm located at the Chicago Board of Trade. Blue Line Futures mission is to put the customer first, and that means bringing YOU the best customer service, consistent and reliable research and state of the art technology.  Oliver has been a guest on CNBC and Bloomberg, among others.  Oliver has over a decade of trading experience. Prior to Blue Line Futures, Oliver worked as the Director of Managed Futures at iiTRADER.

 

 

Contributing author since 10/6/17 

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