• Oliver Sloup

Livestock Roundup

Live Cattle (February)


February live cattle broke lower on the first trading day of the year, erasing weeks of work from the Bull camp. First support was broken easily, which triggered a wave of selling to our next pocket, 112.125-112.70. A break and close below this pocket could extend the retracement back to the December 8th lows, 110.55-111.00. Previous support will now act as first resistance, 113.90-114.025.


Resistance: 113.90-114.025***, 116.25-116.60***

Pivot: 112.125-112.70

Support: 110.55-111.00****


Feeder Cattle (March)


January feeder cattle rolled out of bed, which we were looking for in the past several weeks, apparently, they just took notice of the corn rally. 134.65 held on a closing basis, a break and close below here opens the door for another whoosh lower, with some minor support near 133, but the more significant support does not come in until 130.00-130.70.


Resistance: 140.70141.225****, 143.475****

Pivot: 137.25-137.925

Support: 134.65**, 133.00***, 130.00-130.70***


Lean Hogs (February)


February lean hogs rallied to our 4-star resistance pocket and ran into a brick wall, we had that defined in the previous reports as 72.00-72.60. Our pivot pocket comes in from 70.35-70.675. A break and close below here could trigger some brief consolidation, but we remain upbeat on prices over an extended time frame.


Resistance: 72.00-72.60****, 77.00**

Pivot: 70.15-70.45

Support: 68.00-68.50***, 62.7-63.70****, 58.25-59.65**


Sign up for your FREE trial of our daily Grain & Livestock Market Analysis!

Follow us on our social media sites to stay on the pulse of our latest research and commentary!

Twitter - twitter.com/bluelinefutures

Facebook - facebook.com/BlueLineFutures

YouTube - YouTube.com/BlueLineFutures

StockTwits - stocktwits.com/BlueLineFutures

Latest blog posts - bluelinefutures.com/blog


Blue Line Futures

312-278-0500

info@Bluelinefutures.com


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.

11 views0 comments

Recent Posts

See All
Logo_desktop_2x.png

141 W. JACKSON BLVD., SUITE 2845

CHICAGO, IL 60604

INFO@BLUELINEFUTURES.COM

P: (312) 278-0500

F: (888) 370-2221

  • YouTube - White Circle
  • Facebook - White Circle
  • Twitter - White Circle
  • LinkedIn - White Circle

© 2020 by Blue Line Futures, LLC. All rights reserved.

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