Livestock Roundup | 11.12.2021

Live Cattle (December)

Yesterday was a new day, but the same story. The market pulled back near the 100-day moving average and recovered into the close. The market has been trending higher for the last month thanks to a brighter fundamental outlook in the near future. The Bulls need to see a conviction move above this week’s high to encourage the next leg higher. The next resistance pocket we see comes in from.....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Support:

Feeder Cattle (January)

Feeder cattle were initially lower on the rally in corn but held together better than one might have expected. This is constructive in our minds, keeping our bias upbeat so long as the Bulls can continue to defend technical support from 157.15-157.425. There is some minor resistance from 161.00-161.225, but the more significant pocket comes in from 162.40-163.125. If the Bulls can chew through this pocket in the coming weeks, we could see a potential run towards.....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Support:

Lean Hogs (December)

December lean hogs traded on both sides of unchanged yesterday, finishing the session near where it opened (lower). All in all, there’s not a lot you can take away from a session like that. This week’s early price action has not been friendly for the Bulls, but Wednesday’s reversal may be the silver lining they need to keep them involved on the buy-side. Our pivot pocket remains intact from.....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Support:

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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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