Livestock Roundup

Live Cattle (April)


April live cattle managed to find it is footing yesterday, trading up into our 4-star resistance pocket, 119.40-119.90. A breakout above here could encourage momentum traders to jump on board, potentially taking us to retest the contract highs from last January, 124.50. Significant support remains intact from 117.25-117.675. We remain upbeat on live cattle futures and believe that fund participation could be the leading catalyst for higher prices. We are less optimistic on February futures as the shot clock continues to wind down. Cash trade was softer yesterday afternoon........Click this link to read the FULL report and receive our daily commentary

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Feeder Cattle (March)


March feeder cattle ripped higher yesterday but ran out of steam at the 50-day moving average, 138.60. Yesterday’s price action was constructive, but the Bears remain in control of the technical landscape until we see consecutive closes back above 137.25-137.925. 4-star technical support was tested and held last week, keeping it intact to star this week’s trade, 132.15-132.45. A break and close below here could open the door for another wave of selling. Softer grain prices in the overnight session could help provide a tailwind to the market this morning........Click this link to read the FULL report and receive our daily commentary

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Lean Hogs (April)


April lean hog futures gave back Friday’s gains and then some yesterday, finishing in the middle of our support pocket, 71.00-72.00. This pocket was previous resistance from October all the way to the breakout point at the end of December. The Bulls have a slight technical advantage, so long as they can defend the pivot pocket........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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