• Oliver Sloup

Livestock Roundup


Watch us on RFD-TV, today at 9:45 AM CT! U.S. Cattle Inventory at 92.6 MLN Head, USDA Says U.S. Cattle Inventory Fell 0.2% Y/Y All cattle and calves fell 0.2% from Jan. 2020; survey est. was for a 0.4% decline. Number of cows and heifers that have calved fell to 40.60m head from 40.68m Live Cattle (April) April live cattle futures traded in a wide(r) range on Friday, 2.525. First resistance was tested on Friday from 123.50-123.70, but failed, keeping it intact. A close above this pocket would likely propel us to new contract highs, above 124.50. The cash market has firmed up recently, but we are not sure it was enough to keep futures supported. We are welcoming a pullback to the breakout point from January 22nd, near 120.........Click this link to read the FULL report and receive our daily commentary

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Support: Feeder Cattle (March) Feeder cattle broke lower on Friday after failing to get out above our pivot pocket. In Friday’ morning’s report we noted that first support came in from 139.175-140.25, we said: “ A break and close below here could trigger additional pressure to sweep into the market. The next support pocket comes in from 137.25-137.925.”. Prices fell into that support pocket on Friday, Bulls will want to defend this level. A break and close below could take us towards the bottom end of the recent range, 132.15-132.825.........Click this link to read the FULL report and receive our daily commentary

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Support: Lean Hogs (April) April lean hogs are continuing to linger near technical resistance. We mentioned last week that longs should consider reducing against technical resistance. We remain upbeat on lean hogs but would welcome a pullback to the recent breakout point as an opportunity to get long exposure back on. We see that support coming in from 74.025-74.75.........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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