Cattle and Hog markets did little on Tuesday September 25, 2018. Cattle shook off a bearish (in my opinion) cold storage report and Hogs took in stride processing plants coming back on line in North Carolina and a bearish (in my opinion) cold storage report to consolidate near support. If live cattle breaks below support at 116.35 a pullback to 114.70 is possible. Feeders traded within the Monday range, holding support at 156.05. A break down could see price trade towards 153.50. December Hogs have been trading between 55.95 and 58.65. Buy a straddle or a strangle expecting the market to break away from the trading range.
For those interested I hold a weekly grain (with Sean Lusk) and livestock webinar on Thursday, September 27th 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.
**Call me for a free consultation for a marketing plan regarding your livestock needs.* *
Ben DiCostanzo
Senior Market Strategist
Walsh Trading, Inc.
Direct: 312.957.4163
888.391.7894
Fax: 312.256.0109,
www.walshtrading.com
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.