Livestock Roundup

Live Cattle (December) Live cattle were sharply lower last week, with the October contract trading as much as 8.225 off the August 24th highs (9 sessions). With October up against the shot clock, we talked last week about looking long the December contract against the 100-day moving average, which comes in near 130.65. For clients who want to be long the market or were short the market, we used the back half of last week as a buying opportunity. If December futures fail to defend the 130.00 level on a closing basis, we would likely take our medicine and wait for another opportunity. Cash trade last week was mostly steady with the south trading 123-124 and the north trading 125-130..........Click here to read the FULL report and receive our market bias and technical levels!

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Previous Session Bias:

Resistance:

Pivot:

Support: Feeder Cattle (September) September feeder cattle continued to roll over last week, trading as much as 11.375 off the August 23rd highs (10 sessions). In Friday’s report we talked about support from 160.05-160.825 being pivotal, writing “The Bulls need to continue to defend this pocket, a failure opens the door for a retest of the 100-day moving average at 157.75.”. The market broke down on Friday and made a push towards the 100-day moving average. Previous support now becomes resistance, 160.05-160.825..........Click here to read the FULL report and receive our market bias and technical levels!

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support: Lean Hogs (October) October lean hogs have been relatively quiet over the last week, as they continue to treat on the 100-day moving average, coming in at 89.30 this morning. The Bulls need to continue defending this technical indicator, a failure to do so could spark some long liquidation. Our near term bias is pretty neutral until we get a breakout or breakdown from resistance or support..........Click here to read the FULL report and receive our market bias and technical levels!

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support:


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Blue Line Futures

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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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