Livestock Roundup | 11.5.2021

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Live Cattle (December)

December live cattle pulled back yesterday after failing to get out above technical resistance. In yesterday’s report and in our Facebook group on Wednesday (Click here to join) we noted that it might be a good idea to reduce against resistance. If you had reduced and are still bullish, you may consider reestablishing those positions into technical support which comes in from.....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Support:

Feeder Cattle (January)

January feeder cattle took yesterday’s session to catch their breath after a huge run from Monday’s capitulation low. There’s a gap that comes in from 157.15-157.425, we like being buyers against this pocket, but need to see it defended on a closing basis to feel good about holding that bias into the weekend. Resistance comes in from .....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Support:

Lean Hogs (December)

Great export sales yesterday morning helped prop the lean hog market up, which is great, but there’s a gap below the market that may need to be closed. That gap comes in from 76.05-77.00. The upper end of that gap happens to be our pivot pocket, if the Bulls can defend the gap and our pivot pocket, we would expect to see a retest of .....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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