Livestock Roundup | 12.06.21

Live Cattle (February)

February live cattle were weaker during Friday’s session, expanding the losses for the week to 2.25. Friday’s Commitments of Traders report showed Managed Money were net buyers of 9,484 futures/options contracts, expanding their net long position to 78,517 futures/options (94,689 longs and 16,172 shorts). We remain upbeat on prices but are concerned with the overall price action that we saw through last week’s trade. A break and close below support from 137.50-137.85 is the line in the sand that would.....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Support: