Buy Or Sell?

Live Cattle (October) October live cattle caught a nice bid yesterday, trading up near first resistance, 128.90-129.25. Though longer term optimistic, more so on the deferred, we like selling October live cattle against technical resistance ahead of the bearish seasonal. October live cattle have been lower for 13 out of the last 15 years from August 11th to August 26th. First support remains intact, 127.00-127.075. A break and close below this pocket could accelerate the selling pressure and take us closer to the 100-day moving average which comes in at the low end of 125...........Click this link to read the FULL report and receive our daily commentary

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Support: Feeder Cattle (September) September feeder cattle traded on both sides of unchanged yesterday but finished the day on higher ground. Friday’s low will continue to be first support this week, that 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 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) Lean hogs launched higher yesterday which keeps the door open for additional momentum to take us back to the breakdown point from July 28th, 92.225-92.375. We continue to like leaning on the sell side as August is typically a weaker month. First support comes in from 89.375-89.775. A break and close below this pocket could reignite the selling pressure via long liquidation...........Click this link to read the FULL report and receive our daily commentary

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Support: Dairy Although Tuesday's GDT was down overall 1%, Butter was up 3.8%, skim milk powder up 1.5% and cheddar up 0.7%. This did nothing at all to help US spot market sales as butter dropped 8 cents to $1.62. NFDM and whey also saw declines as once again the futures across the dairy complex saw declines. Until there is some stabilization in these markets it’s tough to say the market is ready for a bounce. It just may be as simple as we've said previously, there is too much butter and cheese available. Until production is slowed to meet the actual demand, the decline may continue...........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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