• Oliver Sloup

Livestock Roundup

Live Cattle (June)

With little new news on the cash side of things, June futures struggled to get follow-through momentum from Monday’s futures trade. With the market trading in an inside day (trading within the previous day’s range) and finishing little changed, many of our technical support and resistance pockets remain intact. Resistance comes in from 122.40-123.00. A breakout above this pocket puts us in uncharted territory, which makes it difficult to find the next meaningful resistance pocket. The Bull camp will want to see cash firm up this week to keep yesterday’s momentum alive. We continue to believe that fund flow will continue to prop up prices, but again, we need the help of the cash market to get a bigger move.........Click this link to read the FULL report and receive our daily commentary

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Support: Feeder Cattle (April)

April feeder cattle futures were unable to find follow through momentum yesterday, which could give us a choppy trade as we enter the half-way point of the week. The Bulls need to defend 142.00-142.30 to keep the recent friendly developments intact. A break and close below there could take us back to the 100-day moving average, 140.30.........Click this link to read the FULL report and receive our daily commentary

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Support: Lean Hogs (April)

April lean hogs made new highs yesterday, again. As mentioned in previous reports, the chart remains constructive with the path of least resistance remaining higher for the time being. Being in uncharted territory makes it a fool’s errand to try and find technical resistance. Sure, the market will eventually overshoot fair value and form a top, but we do not advise you to try to be a hero and call the top. Tops and bottoms are a process, not a point.........Click this link to read the FULL report and receive our daily commentary

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