• Blue Line Futures

Livestock Roundup

Click this link to watch yesterday's interview with RFD-TV!

Live Cattle (June)


June live cattle traded both sides of unchanged during yesterday’s session, better than dropping like a rock, but not what the Bulls needed to sleep better at night. 117.15-115.85 is the pocket that the Bulls want to reclaim, this represents previously important price points including the breakdown point from last Thursday. If the Bulls can achieve consecutive closes above this pocket, we could start to see an inverse head and shoulders pattern form. A break and close below first support, 113.875-114.175, would likely take us to new lows for the move and our 4-star support pocket, 111.725-112.05.


Resistance: 119.825-120.35***


Pivot: 117.15-117.85


Support: 113.875-114.175**, 111.725-112.05****

Feeder Cattle (August)


Feeder cattle continued to work higher yesterday, achieving their highest daily close in a month (since April 20th). This close was above our resistance pocket, but the Bulls will want to see follow through and confirmation in today’s session, before getting too comfortable.


Resistance: 154.30-155.25***, 158.00-158.975**


Pivot: 151.925-152.50


Support: 150**, 141.50-142.20**

Lean Hogs (June)


June lean hogs are continuing to bleed lower, in an orderly fashion, which is a little surprising. Our pivot pocket remains intact from 109.725-110.075. If the Bulls fail to reclaim this pocket, we could see the long liquidation continue to take us lower. The next support pocket comes in from 103.00-103.875.


Resistance: 113.25-113.80**


Pivot: 109.725-110.075


Support: 103.00-103.875**, 100.925-101.10***


Sign up for your FREE trial of our daily Grain & Livestock Market Analysis!

Follow us on our social media sites to stay on the pulse of our latest research and commentary! Twitter - twitter.com/bluelinefutures Facebook - facebook.com/BlueLineFutures YouTube - YouTube.com/BlueLineFutures StockTwits - stocktwits.com/BlueLineFutures Latest blog posts - bluelinefutures.com/blog Blue Line Futures 312-278-0500 info@Bluelinefutures.com

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.

12 views0 comments

Recent Posts

See All