Livestock Roundup

Watch us on RFD-TV, today at 9:45 AM CT! Live Cattle (October)

October live cattle fell off a cliff early Friday morning as futures broke below our support pocket from 127.00-127.05. This opened the door for a drop towards our next support, near 125.625. Futures were able to defend that and rally into the afternoon, finishing the session and the week in positive territory. We have had a bearish bias recently, but Friday’s impressive reversal is hard to ignore and lowers some of the conviction we would otherwise have...........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support: Feeder Cattle (September)

September feeder cattle broke lower on Friday morning but stabilized and recovered losses to finish up 1.525 for the week. As mentioned in the live cattle section, we’ve been leaning on the sell-side recently, but the ability to defend and reverse off trendline support favors the Bull camp, which diminishes our conviction/bias on the sell-side...........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support: Lean Hogs (October)

October lean hogs say follow-through selling during the Friday morning trade but managed to recover and finish the session in positive territory, trimming the losses for the week to just .425. We remain in the “sell rallies” camp, so long as the Bears can defend resistance, which comes in from 92.225-92.375...........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support: Dairy

As expected, exports of milk solids were strong for the first half of the year. Optimistically speaking they should continue to be that way as the seaports lessen the backlog in the second half of the year. Unexpectedly NASS reported lower butter production by 19% MoM in June. Almost 2% reduction for cheese. This appeared to be good enough news to halt the price decline in dairy products. With a lack of reports due out this week, the focus will be mainly on the spot market. Definitely, more confirmation of lower production is still necessary to help firm up the market.


Sign up for your FREE trial of our daily Grain & Livestock Market Analysis and stay on the pulse ahead of the data release!

Follow us on our social media sites to stay on the pulse of our latest research and commentary! Twitter - twitter.com/bluelinefutures Facebook - facebook.com/BlueLineFutures YouTube - YouTube.com/BlueLineFutures StockTwits - stocktwits.com/BlueLineFutures Latest blog posts - bluelinefutures.com/blog Blue Line Futures 312-278-0500 info@Bluelinefutures.com 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.

8 views0 comments