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Live Cattle (April)
Cash cattle did start to pick up yesterday, coming in at 122 in the South. Weekly export sales came in at 21,700mt for 2020. April live cattle continued to bleed lower yesterday on a lighter volume trade. The market finished the session right near our first support, 120.375. In the previous two days we have listed this as an important point for the bulls and the bears. If you have been short, this is a place to reduce. If you want to be long, this is a spot to dip the toes in. The next and more significant point we have on our radar is....Sign up for your FREE two-week trial of our daily commodity reports!
Feeder Cattle (March)
March Feeder cattle tripped stops below the recent lows but managed to defend technical support again, rebounding prices back near unchanged for the session. Our support pocket remains intact for today’s session, that comes in from....Sign up for your FREE two-week trial of our daily commodity reports!
Lean Hogs (April)
April lean hogs got beaten down again yesterday, taking us within a stones throw of the august lows, 68.45. The RSI is at 29, technically oversold but not to the extent we saw in August when it was at 25. The recent decline has narrowed the basis and with cash creeping higher we could see that stabilize the board near term. Weekly export sales came in at 34,100mt for 2020. ....Sign up for your FREE two-week trial of our daily commodity reports!
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.