A Seasonally Weak Time Of Year

Live Cattle (October) October live cattle were lower on the day but were able to defend the Friday low and our 3-star support pocket, 127.00-127.075. If that pocket gives way, we could see it trigger additional long liquidation towards the 100-day moving average, coming in at 125.00 this morning. There is a bearish seasonal around the corn, something that we talked about in last week’s reports. October live cattle have been lower for 13 out of the last 15 years from August 11th to August 26th. Coupled with prices at the top end of the technical range, we like leaning on the short side for a short-term trade. In our opinion, a pullback from these levels would set the December contract up for a good longer term buying opportunity...........Click this link to read the FULL report and receive our daily commentary

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Support: Feeder Cattle (September) Feeder cattle were higher on the day, despite the grain markets firming. This is encouraging for the Bull camp but could just be the market catching its breath after the sharp decline in the prior 4 sessions. Friday’s low will continue to be first support this week, which comes in at 160.825. If that gives way, we could see another leg lower towards the July 22nd gap, 159.225-159.70. Though the correlation isn’t 1:1, grain prices will continue to have a heavy influence on the market, so keep that on your radar...........Click this link to read the FULL report and receive our daily commentary

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Support: Lean Hogs (October) October lean hogs recovered off the 100-day moving average in yesterday’s session, a popular indicator recently, for agricultural commodities. There is a bearish seasonal in play, which keeps our sell rallies mindset intact. First resistance remains intact at 90.875. Above that is the breakdown point from July 28th, 92.375...........Click this link to read the FULL report and receive our daily commentary

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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