• Oliver Sloup

Livestock Roundup

Live Cattle (August)

August live cattle bled a little lower yesterday but managed to defend the low end of the recent range. Technical support remains intact to start the week, we have defined that as 95.10-95.45, the Bulls MUST defend this pocket on a closing basis. A break and close below could take us back near the 90.00 handle. We have been upbeat over the last two months, and have looked at pullbacks as buying opportunities, but the market is starting to look more tired, which has us more cautious than we have been over the last several weeks.

Resistance: ---------------------

Support: ---------------------

....Contact us for the FULL report!

Feeder Cattle (August)

August feeder cattle traded into the low end of the range and our 3-star support pocket, 132.75-133.725. A break and close below here could trigger an acceleration of selling, opening the door for a run at our next support pocket, 127.25-128.45. The market is threatening to mark lower highs on the recent move (May 7th high VS. June 1st high), which could take us to lower lows (May 21st lows).

Resistance: ---------------------

Support: ---------------------

....Contact us for the FULL report!

Lean Hogs (July)

July lean hogs finished yesterday’s session little changed as the market hovers near our pivot pocket, 54.775-55.35. The Bear camp has the advantage until the Bulls can achieve consecutive closes above this pocket. The next support pocket comes in from 51.325-51.625, a break and close below there could lead us to a retest of contract lows, 49.00.

Resistance: ---------------------

Pivot: ---------------------

Support: ---------------------

....Contact us for the FULL report!

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Call/Text/Email, Oliver with any questions.

Oliver@BlueLineFutures.com and 312-837-3938

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