Livestock Market Update
Live Cattle (August)
August live cattle futures gave back some ground yesterday as the market failed against struggled to take out the previous day’s highs and our 3-star resistance pocket, 97.40-97.60. The inflection point for the remainder of the week comes in from....Contact us for the FULL report!
Feeder Cattle (August)
August feeder cattle staged an inside day, trading within the previous day’s range. The market has been coiling for the better part of the last two months, this could lead to a bigger directional move in the not to distant future. A break and close below the 50-day moving average and this week’s lows, 131.125-131.45, could open the door for pressure down to....Contact us for the FULL report!
Lean Hogs (August)
Weekly export sales this morning came in at 24,100 metric tons for 2020, down 38% from last week but 3% above the 4-week average. Futures remain bearish, but we are not sure how much juice is left in that grape. Do not confuse that with being Bullish, we need to see technical confirmation before taking that step. Consecutive closes above....Contact us for the FULL report!
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Call/Text/Email, Oliver with any questions.
Oliver@BlueLineFutures.com and 312-837-3938
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.