Livestock Roundup

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Two weeks ago, we wrote about the complaint we filed with CME, regarding the pre-market livestock markets. CME announced yesterday that they will shorten pre-market livestock markets to 8:00am-8:30am CT (previously 6:00am-8:30am CT). Little victories. For those of you who are unaware of what was happening in the pre-market, it was essentially spoofing. The market was showing limit up or limit down 75% of the time from 6:00am-8:29am CT, affecting how honest market participants prepare for the day’s trade.

Live Cattle (August)

The volatility has expanded this week, shaking out weak hands on both sides (buyers and sellers). Position sizing is key in trading, but especially in this environment. We have had a bullish bias on the market and maintain that but reducing against technical resistance or one of your targets gives you the ability to add exposure back on if the market retreats. The market is lingering near our pivot pocket, if the Bulls fail to hold ground here, we could see another near-term setback. We are still eyeing the gap from May 7th, that comes in from 92.525-93.675. ....Contact us for the FULL report!