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Livestock Report


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The August Lean Hogs contract is the lead contract as its volume has exceeded Julys volume. It tested support at 79 .80 making the low just above it at 79.90. It rebounded sharply off the low and made the high at 82.425. It settled near the high at 82.25. A rally above the high could see price test resistance at 83.325 and the declining 8 DMA at 83.831. A break down from settlement could see price retest the low. The Lean Hog Index declined and is at 79.46 as of June 13th and the pork cutout index inched higher to 83.32 as of June 14th.

August Live Cattle held support at 104.20 making the session low at 104.40. It bounced and traded up to resistance at 106.025. It made the high just below it at 106.00. Settlement was at 105.625. Breaking down below support could see a test of support at 103.00. If August cattle could trade above 106.025, a test of resistance at 107.30 is possible. Resistance then comes in at 108.65. The cash market was quiet. Boxed beef cutouts were lower as choice cutouts were down 0.41 to 221.82 and select was down 0.25 to 202.51 on light to moderate demand and moderate offerings. The choice/ select spread narrowed to 19.31 and the load count was 94. Slaughter was 120,000.

August Feeder Cattle dipped below support at 134.25 making the low at 134.125. A strong recovery saw price test resistance at 136.75. It made the high just above it at 137.225. It settled at 136.925. It formed a bullish outside candlestick. A rally above the high could see price test resistance at 138.95 and then monthly trendline resistance at 139.175. A break down below settlement could see support tested at 135.60 and then 134.25. The Feeder Cattle Index declined to 133.55 as of June 14th.

For those interested I hold a weekly grain (with Sean Lusk) and livestock webinar on Thursday, June 20that 3:00 pm. It is free for anyone who wants to sign up and the link for sign up is below. If you cannot attend live a recording will be sent to your email upon completion of the webinar.

Sign Up Now

**Call me for a free consultation for a marketing plan regarding your livestock needs.* *

Ben DiCostanzo

Senior Market Strategist

Walsh Trading, Inc.

Direct: 312.957.4163

888.391.7894

Fax: 312.256.0109,

bdicostanzo@walshtrading.com

www.walshtrading.com

RISK DISCLOSURE: THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES AND OPTIONS TRADING. THIS REPORT IS A SOLICITATION FOR ENTERING A DERIVATIVES TRANSACTION AND ALL TRANSACTIONS INCLUDE A SUBSTANTIAL RISK OF LOSS.THE USE OF A STOP-LOSS ORDER MAY NOT NECESSARILY LIMIT YOUR LOSS TO THE INTENDED AMOUNT. WHILE CURRENT EVENTS, MARKET ANNOUNCEMENTS AND SEASONAL FACTORS ARE TYPICALLY BUILT INTO FUTURES PRICES, A MOVEMENT IN THE CASH MARKET WOULD NOT NECESSARILY MOVE IN TANDEM WITH THE RELATED FUTURES AND OPTIONS CONTRACTS.



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About the author


Ben DiCostanzo
Senior Market Strategist
Walsh Trading

I began my career in the Securities industry working as a runner on the floor of the New York Stock Exchange while I attended Pace University. I then started working for Salomon Brothers in their Government Bond Trading arena. After graduating from Pace University with a degree in Accounting, I transferred to Chicago and became a member of the Chicago Mercantile Exchange utilizing my experience to execute trades and manage risk for institutional clients as a broker for Salomon Brothers on the trading floor. I then embarked to trade for my own account in the stock indices pits as a local before moving off the floor to aid and assist individual clients in their trading endeavors. I now work at Walsh Trading holding a series 3 broker’s license whose duties include being the firm’s Chief Market technician.

I understand that every client's needs are different, and I pride myself in tailoring my service to each client's unique circumstances and needs. Individual client experience, risk tolerance, and capital all play a role in how I approach the markets. I am involved in all markets using technical analysis to find opportunities. My approach is driven by the principles of capital preservation.

My trading philosophy is that if you can recognize and manage the risk, you have a better chance to be successful in trading. I advise clients to always use stops as money management in my opinion is the most important ingredient in trading commodities.

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