• Oliver Sloup

Livestock Roundup

*Sent out to clients each morning, prior to the 8:30 AM CT open


Live Cattle (April)


The Cattle on Feed report will be out after the close, today. Estimates are as follows: On Feed, 99.3%, Placements, 97%, and Marketed, 100.7%.


This morning’s export sales report showed net sales of 24,500 MT reported for 2021.


April live cattle closed above the top end of resistance, though the conviction was lacking. The Bulls will want to see a conviction close above 119.90 to keep the momentum in their court and to keep the door open for a potential retest of contract highs, 124.50. As mentioned for several weeks now, 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, but they have been surprisingly strong this week.........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

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Support:

Feeder Cattle (March)


January feeder cattle managed to rally yesterday and could extend that rally today with the grain markets under pressure. The market has essentially retraced the breakdown from January 4th, the Bulls will want to see a conviction close above this area to keep the recent momentum going.........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support:

Lean Hogs (April)


This morning’s export sales report showed net sales of 45,200 MT reported for 2021.


Lean hog futures moved higher yesterday, testing our resistance pocket from 74.025-75.75. We continue to be fairly upbeat on lean hog futures but need to see a conviction close above this pocket to keep the momentum going and keep the door open for a potential retest of contract highs, 77.10. The Bulls need to continue defending 71.00-72.00. A break and close below here would neutralize our bias.........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support:



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