Livestock Roundup

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Two weeks ago, we wrote about the complaint we filed with CME, regarding the pre-market livestock markets. CME announced yesterday that they will shorten pre-market livestock markets to 8:00am-8:30am CT (previously 6:00am-8:30am CT). Little victories. For those of you who are unaware of what was happening in the pre-market, it was essentially spoofing. The market was showing limit up or limit down 75% of the time from 6:00am-8:29am CT, affecting how honest market participants prepare for the day’s trade.

Live Cattle (August)

The volatility has expanded this week, shaking out weak hands on both sides (buyers and sellers). Position sizing is key in trading, but especially in this environment. We have had a bullish bias on the market and maintain that but reducing against technical resistance or one of your targets gives you the ability to add exposure back on if the market retreats. The market is lingering near our pivot pocket, if the Bulls fail to hold ground here, we could see another near-term setback. We are still eyeing the gap from May 7th, that comes in from 92.525-93.675. ....Contact us for the FULL report!


Resistance: 104.40-105.97***, 107.925-109.325****

Pivot: 99.85-100.975

Support: 95.10-95.45****, 92.525-93.675***, 89.05-90.025***

Feeder Cattle (August)

The market fell back yesterday but managed to hold the lows from the previous two sessions, a very constructive development on the technical landscape. So long as the Bulls can continue to defend our pivot pocket, 132.75-133.725, they have a chance to form a bull flag. A breakdown below here will neutralize the recent bullish developments. Support below our pivot pocket comes in from 127.25-128.45.....Contact us for the FULL report!

Resistance: 137.70-139.125****, 145-146***

Pivot: 132.75-133.725

Support: 127.25-128.45***, 123.475-124.30***, 121.00-121.65****

Lean Hogs (June)

June lean hogs broke below the lows this week which accelerated the selling and leaves the door open for a retest of 54.775-55.275. This pocket was previously resistance, making it support going forward. The Bulls MUST defend this pocket to market higher lows and keep the last two months of positive price action intact. First resistance comes in from 61.00-62.10.....Contact us for the FULL report!

Resistance: 61.00-62.10***, 66.025***, 68.75****

Pivot: 59.25-59.95

Support: 54.775-55.275**, 51.325-51.625***

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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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