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Futures trading involves substantial risk of loss and may not be suitable for all investors.

  • Oliver Sloup

Livestock Roundup

Live Cattle (April)


April live cattle traded on both sides of unchanged before finishing yesterday’s session in positive territory. The market ran up against our technical resistance pocket but failed to chew through it, for the second consecutive time. We have defined that pocket as 121.225-121.80, consecutive closes above this pocket could spur a run towards 123.075-124.30. This is a wider pocket than we would ideally like, but there is a lot of significance within those prices, including the 100-day moving average, the gap from January 27th, a key retracement, and several other previously important price points.


Bottom Line: Our intermediate term bias leans on the bearish side but we are welcoming a relief rally to re-enter shorts at better prices, ideally closer to our 4-star resistance from 123.075-124.30. If you’re bullish and have been long for the past few sessions, this pocket would be a potential place to reduce.


Resistance: 121.225-121.80***, 123.075-124.30****

Pivot: 119.825-120.05

Support: 118.675-119.05***, 115.925-116.70****


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Call/Text/Email Oliver with any questions!

312-837-3938 Oliver@BlueLineFutures.com


Feeder Cattle (March)


March feeder cattle continued higher, finishing the session a notch above the top end of our 4-star resistance, 139.25. This area represents the gap from January 27th, a key retracement, and other previously important price points. If the bulls can achieve a close above this pocket, we could see an extension towards 141.75-142.625, this pocket represents a key retracement, the 50 and 100 day moving average, and the breakdown point from January 23rd.


Bottom Line: Last week we talked about welcoming a relief rally to re-enter shorts at a better price, for hedgers and speculators. With prices over $5.00 off last week’s lows, we feel this would be a spot to dip the toes back in but want to try and be more patient for a run towards 4-star resistance to get more aggressive.


Resistance: 141.75-142.625****, 147.75***

Pivot: 138.775-139.45

Support: 136.725-137.25***, 133.25-134.20****


Get our FULL report emailed to you daily!

Call/Text/Email Oliver with any questions!

312-837-3938 Oliver@BlueLineFutures.com


Lean Hogs (April)


April lean hog futures caught a bid yesterday after looking like they were going to roll back over, early in the session. Our pivot pocket is 64.875-65.025, if the bulls can achieve consecutive closes above this pocket, we could see an attempt to take out the recent highs and retrace the breakdown points from the end of January.


Bottom Line: We still think we could see prices repair the damage that was done at the end of January and beginning of February, but we would not be looking for much more than that. If the bulls can chew through 66.85, we could see an extension back to 70-72.


Resistance: 66.85**, 67.95-68.675***, 72.00-73.075****

Pivot: 64.875-65.025

Support: 63.15-63.60***, 61.00****


Get our FULL report emailed to you daily!

Call/Text/Email Oliver with any questions!

312-837-3938 Oliver@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.