Livestock Roundup | 11.10.2021

Live Cattle (December)

December live cattle pulled back near the 100-day moving average which held as technical support. Futures finished near the top end of the day’s trading range, which keeps the Bull trend intact. So long as the Bulls can continue to defend 131.175-131.925 on a closing basis, they have the technical advantage. The next meaningful resistance pocket comes in from.....Click here to get our (FULL) daily reports emailed to you!


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Feeder Cattle (January)

January feeder cattle traded lower after corn got a boost from the USDA report. All in all, there was no technical damage done and our outlook remains friendly so long as the Bulls can continue to defend support from 157.15-157.425. There is some minor resistance from 161.00-161.225, but the more significant pocket comes in from.....Click here to get our (FULL) daily reports emailed to you!

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Lean Hogs (December)

We’ve been upbeat on lean hogs, but yesterday’s price action has muted that optimism with a break below support from 75.75-76.05. The Bulls need to achieve consecutive closes back above this pocket to help stabilize the fundamental landscape. A failure could take us back to.....Click here to get our (FULL) daily reports emailed to you!


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Dairy

With global demand for dry dairy products strong and slower production worldwide, the dairy complex as seen strength across the board in recent weeks. US milk prices are at very good levels and producers should be looking to protect 2022 prices now. Utilizing put strategies are recommended since this will allow for price appreciation. Given the current market fundamentals, limiting upside wouldn’t be advised but not getting any protection in place for both class III and class IV could possibly be a missed opportunity......Click here to get our (FULL) daily reports emailed to you!


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