Good job. Say thanks to the USDA Cattle on feed report. Short Dec 16/ Long Feb 17 Live Cattle @ 0.925.
Out @ -5.25 for a small gain. It was a sound trade at first but French corn decided to diverge from CBOT's and drop a cliff in the last few sessions...
Man, cattle. What the heck. I've given up trying to advise cattle producers. I don't even understand this market.
LOL...At least to the upside there is a fundamental catalyst with this cattle on feed... Look at the back end of the curve on feeders. Spreads are at unprecedented levels. I am bleeding there...Perhaps they are anticipating much larger supplies in fall ( and lower prices )...I still think it is a good short though.
What months are you in. PM if you wish. There may be a reason for the levels. Also bearing HJ fdrs is good trade