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How Low Will Cattle Go?


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Livestock Roundup

August 13, 2019


Live cattle futures were limit down today, even with expanded limits. Expand limits remain in affect for tomorrows trading session. September feeder cattle was the only contract of feeders to take full advantage of expanded limits. The money flow in the Ag space has been extremely negative, with grains and cattle taking heat. This has likely helped spur forced liquidation (margin selling) and add to the pressure weve seen. In this type of environment technicals go out the window, this is an emotional/irrational trading environment. There will be phenomenal short-term opportunities, likely at some point this week, but thats not to say we are near a bottom. Expect volatility to remain high. This afternoon daily slaughter came in at 116,000, only 2,000 less than last week.


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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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