Livestock Roundup | 11.18.2021

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Live Cattle (December)

The sideways trade has done little to shake things up on the technical landscape, keeping support and technical levels intact. The Bulls need to see a conviction move above last week’s high to encourage the next leg higher. The next resistance pocket we see comes in from 134.575-134.85. We did touch on live cattle in yesterday’s Tech Talk, noting that if you want to be in a longer-term position, you may consider looking at the deferred contracts, because the shot clock is winding down on December futures.


This morning’s weekly export sales report showed net sales of 25,500 MT for 2021 were up 23 percent from the previous week and 58 percent from the prior 4-week average. Increases primarily for China (13,800 MT).

Friday’s Cattle on Feed estimates are as follows: On Feed: 99.7%, Placements: 102.5%, and Marketings: 96%.....Click here to get our (FULL) daily reports emailed to you!


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Feeder Cattle (January)

January feeder cattle were under pressure early on, thanks in part to the strength in the grain complex. All in all, as with last week, the market held relatively well which we believe is a silver lining for the Bulls (Yes, you can have a constructive session on a down day). The technical landscape remains unchanged from yesterday’s report. Our technical support pocket comes in from 157.15-157.425. So long as the Bulls can continue to defend the low end of that pocket, we will remain upbeat on prices. If grains continue to catch their breath and pullback, this could offer a tailwind to the market. Resistance comes in from.....Click here to get our (FULL) daily reports emailed to you!


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Resistance:

Support:

Lean Hogs (December)

December lean hogs gave back some ground yesterday, settling right back into the middle of the recent trading range, which happens to be our pivot pocket too, 75.75-76.05. If you want to be long the hog market, you may be better served looking out to the deferred contracts. We will start .....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Support:

If you have any questions about markets, trading, or opening an account please let us know!


You can email us at info@BlueLineFutures.com or call 312-278-0500


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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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