Livestock Roundup

Live Cattle (April)

With the shot clock winding down on February futures, we are shifting the focus of our daily writeups to the April contract. Which we have been more optimistic on, compared to the February contract. Significant support comes in from 117.25-117.675, this pocket represents a key retracement and a congestion area for the market over the last three months. A break and close below here could keep the pressure on. The Bull camp wants to see a conviction close above 119.90 to spur another wave of buying, which could potentially take us back into the mid 120’s and close to the contract highs from last January, 124.50.........Click this link to read the FULL report and receive our daily commentary