• Oliver Sloup

Livestock Roundup

Watch us on RFD-TV, today at 9:45 AM CT!

Live Cattle (February)


February live cattle finished Friday’s session slightly lower on Friday, marking a .55 decline for the week. Friday’s Commitment of Traders report showed funds sold 3,307 (net) contracts, shrinking their net long position to 43,618. This is a fairly neutral stance for the funds. We continue to believe that livestock markets have lagged many commodities over the last quarter, in rallies and fund participation, we would not be surprised to see livestock markets play catchup in the first quarter of 2021. We continue to be looking at the deferred contracts to play this thesis, February is starting to run against the shot clock and the upside could be more limited. Cash trade last week was mostly steady........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support:

Feeder Cattle (March)


March feeder cattle got taken to the woodshed last Monday and spent the rest of the week consolidating, catching its breath. Our pivot pocket comes in from 137.25-137.925, the Bulls will want to achieve consecutive closes above this pocket to encourage a retracement of last Monday’s breakdown, 139.175-140.25. The first support to start the week comes in at 134.65........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support:

Lean Hogs (February)


February lean hogs came out of the gates with a bang last Monday but spent the rest of the week retreating to previous resistance, now support, 68.00-68.50. We have been optimistic on prices over the last month but need to see this pocket defended. A break and close below could accelerate the selling pressure and take us back towards the low end of the range from November/December, 62.70-63.70........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support:


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.

13 views0 comments