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Volatile Session for Cattle and Hog Futures

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Livestock Roundup

March 19, 2019

Last Trades

LEJ9: .875 at 129.20 trading in a range of 1.775

LEM9: .225 at 122.80, trading in a range of 2.25

GFJ9: 1.225 at 147.525, trading in a range of 2.825

GFK9: 2.05 at 150.375, trading in a range of 3.50

Cattle Commentary: It was a roller-coaster day for cattle futures, surging high only to breakdown in the next 30 minutes. There were conflicting headlines that likely played a role into that volatility pop. The headlines went from, China walking back trade offers, to Lighthizer is headed to China at the end of the month to continue negotiations. This was lock step with the drop and end of day recovery and mirrored that of the intraday S&P chart. At the same time that these headlines were being released, the Brazilian President and President Trump were meeting, some of their discussion revolved around agricultural trade (details yet to be released). Cash trade has yet to develop this week, but expectations are for steady cash. Tomorrows Fed Cattle Exchange has 596 head offered.

PM Boxed Beef / Choice / Select

Current Cutout Values: / 229.33 / 219.46

Change from prior day: / 1.00 / 1.25

Choice/Select spread: / 9.87

Tech Talk

Live Cattle (April)

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Feeder Cattle (April)

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Lean Hogs (April)

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-S&P, Oil, Gold

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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.



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