@Autospreader What do you think to be long the cattle crush LCV-FCK-ZCN ? (4:2:1) And I just sold the soy crush on N Best
Disclosure I have been crushing cattle since November and it has worked beautifully Right now. The LEV-GFK crush shows to loose -$50 per head and the Leq-gfj is slightly worse at -$60. Not at historical low levels but with profits from current fed cattle dwindling it is hard to think cattle feeders are eager to place cattle with -50 -60 head losses staring them down. I don’t chart crush in a normal way.
How do you calculate your -$50 ? When I use 4LC-FC-C I have a positive p&L ?! What's the specific in your charts ?
Long KC Mar 18 @ 122.8 -USDA lowered production estimates on friday. -Funds are heavily short -spreads are moderately bullish Me bieng a dumbo, I missed the news and the initial market reation this morning. I believe it will continue medium term though.
My gut says "too early" on this one. At some point coffee will do its thing and everyone should know what to do when it does but I have a feeling people are preempting that before it's actually happened. I also don't trust it to not go and retest 115 again.
You are perhaps right. I was looking to go long coffee for too long. The intraday news play was really valid though...