• Oliver Sloup

Livestock Roundup



Cattle

The volatility and irrationality continue. Live cattle have at some point traded at limit (up/down) for something like the last 11 sessions. We have expanded limits for live cattle again, 4.50. Feeder cattle are at normal limits today, 4.50. Early indications are for limit down, that can change quickly though, yesterday’s early indication was showing limit up. We should get a better idea closer to 8:20. With cash firm this week we were expecting to see the April and June contract would be able to hold a bid, obviously that wasn’t the case in yesterday’s trade. We still believe that front months will be able to find some support while the deferreds might struggle. With freezers full, restaurants closed, and unemployment rising, it will be tough to feed the bull. Unfortunately, technicals.....Click this link to get the FULL report, or email Oliver@BlueLineFutures.com

Lean Hogs

Yesterday’s Hogs & Pigs report showed All Hogs at 104%, Kept for Breeding at 100.4%, and Kept for Marketing at 104.3%. Hog prices were limit down in yesterday’s session which puts us in expanded limits to wrap up the week, 4.50. Early indication is for a slightly lower open, June showing 68.55. We think there is still downside left in hogs and would rather sell rallies than fish for a bottom......Click this link to get the FULL report, or email Oliver@BlueLineFutures.com

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