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Livestock Report


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Walsh Trading Daily Insights

Commentary

The Livestock markets were hit with another knockdown blow on Wednesday, going limit down in each market with Live Cattle down the expanded limit. The markets continue to be pushed around by outside markets and that despicable microscopic enemy known as Covid-19. Grain markets, Equity markets, Energy markets all were weak as headlines continue to erupt with negative news on the attacking virus. The livestock markets were no different. With no end in sight to the shut downs and the economic destruction caused by the shut downs futures prices plunged. Markets are volatile to say it simply. Stay tuned! There will be expanded limits on Thursday. Cash trade took place on the fedcattleexchange.com auction at 111,25 and 113.00 on a live basis. There were 4,696 head for sale and only 832 head sold as packers were patient. There was light trading in Kansas at 112.00 and 113.00 on a live basis. There were some dressed sales from 175.00 to 180.00 in Nebraska and the Western Cornbelt. Boxed Beef cutouts are sliding from its high and were sharply lower Wednesday on light demand and moderate offerings. Choice cutouts fell 7.98 to 235.17 and select was dropped 3.83 to 225.13. The choice/ select spread narrowed to 10.04 and the load count was 135. Slaughter was estimated to be 116,000. The Feeder Cattle Index fell to 129.82 as of March 31,2020. The Lean Hog Index declined and is at 65.15 as of March 30, 2020. The Pork Cutout Index fell to 73.09 as of March 31,2020.

For those interested I hold a weekly grain (with Sean Lusk) and livestock webinar on Thursdays and our next webinar will be on Thursday, April 2,2020 at 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.**

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.

Trade Suggestion(s)

Risk/Reward

Futures N/A

Options N/A

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

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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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