Livestock markets continued it lethargic trading on Wednesday, October 17, 2018. The December Live Cattle market stayed within Monday’s upper range, while the January Feeder Cattle traded down to the Monday’s low and December Lean Hogs traded down to the lower end of its trading range. Ho hum… Look for a breakout past their trading ranges for the next possible directional move. Live Cattle range 116.025 – 119.75, Feeder Cattle range 148.675 – 152.275 and Lean Hogs range 53.825 – 59.95. Cash Markets show Live Cattle trading even to slightly lower than last week, Feeder Cattle index declining and the Lean Hog index dipping lower. Balance…
For those interested I hold a weekly grain (with Sean Lusk) and livestock webinar on Thursday, October 18h at 2:30 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.