PFGBEST Livestock Market Comment

CHICAGO - Oct 19/11 - SNS -- Following is the livestock futures comment from PFGBEST Research.

Livestock Market Comments(3)

By Robert Short

by Bob Short, PFGBEST

1-800-280-4566

rshort@PFGBEST.com

Reported Wednesday, Oct. 19:

Wednesday, 9:00 a.m. Central:

Hog Futures:

We finally got around to losing 82 cents on pork product last night, a seasonal situation that was a bit overdue. After trading hog futures higher for five days, some sort of correction is conceivable today. Floor traders yesterday had a target of 9160 basis December. If that contract should dip to the 9125 to 9160 range early in today's session, you could try a short position on a trade into tomorrow. Don't plan to retire on this trade as we are trading for peanuts. Don't risk more than 50 points from entry.

Cattle Futures:

Cattle deliveries have stopped with a late date of October 5 not advancing. This is going to put upside pressure on the October futures contract ' it will be spread against December or February into next week. Beef packers tried to get up money on boxed beef last week, but volume was disappointing. I can't get excited about any trade in cattle at present, but a December rally into the 125.00 -126.50 area would make a decent technical trade.

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

PFGBEST Research Team

Phone: 800-361-6855 or 319-553-2181

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