{"id":2134,"date":"2017-06-02T09:09:02","date_gmt":"2017-06-02T15:09:02","guid":{"rendered":"http:\/\/www.ctsfutures.com\/?p=2134"},"modified":"2017-06-02T09:09:47","modified_gmt":"2017-06-02T15:09:47","slug":"morning-thoughts-2017-06-02","status":"publish","type":"post","link":"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-06-02\/","title":{"rendered":"Morning Thoughts &#8211; June 2"},"content":{"rendered":"<p><strong><u><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1493\" src="../wp-content\/uploads\/Nesvick.png\" alt=\"Nesvick\" width=\"287\" height=\"117\" \/>Livestock<\/u><\/strong><br \/>\nCash cattle absolutely screamed higher yesterday and took the futures board along with it.\u00a0 This is the problem I mentioned yesterday\u2026you have a cash market that just doesn\u2019t want to break 130 to the downside and a deliverable futures contract trading well under that heading into first notice.\u00a0 Now that the cash cattle market has exploded again, the futures board is playing catch-up.\u00a0 Limits are expanded today, and based on the strength in cash I wouldn\u2019t be totally surprised if those expanded limits were tested today.<\/p>\n<p>Today is also option expiration in June cattle.\u00a0 As you can see below, there is above-normal resting open interest at the June 130 strike level.\u00a0 That\u2019s a lot of short calls sitting there that probably didn\u2019t expect to be sitting ATM on expiration just 24 hours ago.\u00a0 With cash trading 137, I\u2019m not sure these guys will want to go home today short futures if the board does indeed continue higher today.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2135\" src="../wp-content\/uploads\/June-Cattle-Option-Open-Interest.png\" alt=\"June Cattle Option Open Interest\" width=\"910\" height=\"660\" srcset="../wp-content\/uploads\/June-Cattle-Option-Open-Interest.png 910w, https:\/\/udg.ehs.mybluehost.me\/wp-content\/uploads\/June-Cattle-Option-Open-Interest-300x218.png 300w, https:\/\/udg.ehs.mybluehost.me\/wp-content\/uploads\/June-Cattle-Option-Open-Interest-600x435.png 600w\" sizes=\"(max-width: 910px) 100vw, 910px\" \/><\/p>\n<p><em>Please note this is just a small sampling of commentary available to clients.\u00a0 Please visit <a href="../wp-content\/uploads\/June-Cattle-Option-Open-Interest.png\" \/>\n\t<meta property=\"og:image:width\" content=\"910\" \/>\n\t<meta property=\"og:image:height\" content=\"660\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"David Zelinski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CTSfutures\" \/>\n<meta name=\"twitter:site\" content=\"@CTSfutures\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Zelinski\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-06-02\/\",\"url\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-06-02\/\",\"name\":\"Morning Thoughts - June 2 - CTS\",\"isPartOf\":{\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-06-02\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-06-02\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/udg.ehs.mybluehost.me\/wp-content\/uploads\/June-Cattle-Option-Open-Interest.png\",\"datePublished\":\"2017-06-02T15:09:02+00:00\",\"dateModified\":\"2017-06-02T15:09:47+00:00\",\"author\":{\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/#\/schema\/person\/2ebea80d35d247463c6be35dcf694285\"},\"breadcrumb\":{\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-06-02\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-06-02\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-06-02\/#primaryimage\",\"url\":\"https:\/\/udg.ehs.mybluehost.me\/wp-content\/uploads\/June-Cattle-Option-Open-Interest.png\",\"contentUrl\":\"https:\/\/udg.ehs.mybluehost.me\/wp-content\/uploads\/June-Cattle-Option-Open-Interest.png\",\"width\":910,\"height\":660,\"caption\":\"June Cattle Option Open Interest\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-06-02\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/udg.ehs.mybluehost.me\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Morning Thoughts &#8211; 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