Friday Morning Livestock Comments

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Anonymous

Mixed call this morning. Packers seem to moving some boxes, which indicates that demand may be picking up. This seems to be friendly, but I think that cash will probably still move lower into the summer. Funds are still on the long side of the Junes and I think that we need to get under the 70.50 area to get any puking out of them. While this is only one possible scenario, I would probably be a buyer when the dust cleared down there. On the upside, I would imagine that rallies into the 72.75 area would be sold. I'd prefer to hold out for a rally into the 73.25 area before selling. These are NOT recommendations to trade futures. Trading involves risk that may not be suitable for everyone.

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