Livestock Roundup

Live Cattle (February) February live cattle futures marked their highest price since October first. We have been wary of near-term fundamentals but cannot deny the constructive chart. A breakout above the August, September, and October highs, 116.25-116.60 could open the door for another leg higher. There is a gap that comes in from 119.475-120.075, this dates to February 2nd. The RSI is at 62.56, below what is typically considered “overbought territory”, but it is inching closer to the top end of the range. Livestock markets are........Click this link to read the FULL report and receive our daily commentary

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Support: Feeder Cattle (January) We have gotten a lot of questions regarding our thoughts on feeder cattle, the simple answer: Impressive. With the grain markets borderline parabolic, we would have guessed that would put more pressure on feeder cattle, but they have been resilient. In yesterday’s session, January feeder cattle made a push higher but backed off, finishing the session near unchanged. Resistance comes in form 141.50-141.975 for today’s session. A failure against this resistance pocket could start to form a bearish head and shoulders pattern. Our pivot pocket comes in at........Click this link to read the FULL report and receive our daily commentary

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Support: Lean Hogs (February) February lean hogs retreated yesterday, coupled with last Thursday’s session, the market has erased all last Wednesday’s big move higher. If you look back over the last two months, the market has been mostly range-bound, call it 64 to 68, with the market near 66, we don’t see a lot of near term value on either side. We would rather buy lower and sell higher. If you are looking out as a longer-term trade, I think there is a case to be made for........Click this link to read the FULL report and receive our daily commentary

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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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