Therefore, carefully consider whether such trading is suitable for you considering your financial condition. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. Past performance is not necessarily indicative of future results. All trading decisions will be made by the account holder. There is no guarantee that the advice we give will result in profitable trades. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Want to get our daily commentary and text alerts? Signup here: Blue Line Ag Hedge Subscriptionįutures trading involves substantial risk of loss and may not be suitable for all investors. With that said, a breakout above our 4-star resistance pocket could reignite the optimism with the next objective being closer to 90.00. We would not be surprised to see the market fail against this resistance. This area represents the 200-day moving average along with previously important price points which date back to the Spring. October lean hogs were able to reclaim some ground in yesterday's trade, but significant resistance near 86 remains. Last week’s negotiated cash cattle trade totaled 82,805 head, with 74% (60,892 head) being committed to the nearby delivery, and the remaining 26% (21,913 head) being committed to the deferred delivery.īoxed beef prices closed lower: choice down $0.30 ($301.49) and select down $1.47 ($275.01) with a movement of 91 loads (46.75 loads of choice, 24.87 loads of select, 6.72 loads of trim and 13.15 loads of ground beef).Resistance: 252.60-253.00***, 254.20**, 256.00** Southern live cattle traded for mostly $180, which is $1.00 higher than the previous week’s weighted average. Last week, Northern dressed cattle traded for $292 to $297, but mostly at $295, which is $1.50 higher than last week’s weighted average. Monday’s slaughter is estimated at 116,000 head, 8,000 head less than a week ago and 2,000 head less than a year ago. Showlists appear to be mixed this week, with there being fewer cattle available in Texas, Nebraska and Colorado, but slightly more available in Kansas. But with packers able to buy some cattle for the deferred delivery commitment last week, this week’s cash cattle market could remain steady as packers did gain some power with their ability to buy cattle with time. No cash cattle trade developed throughout the day and it’s not likely that any trade does develop ahead of Wednesday. August live cattle closed $1.20 lower at $179.70, October live cattle closed $1.47 lower at $181.42 and December live cattle closed $1.27 lower at $185.77. The live cattle complex closed lower as traders remained cautious about overly supporting the market ahead of seeing what this week’s cash cattle trade amounts to.
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