Livestock Roundup

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Live Cattle (December)

December live cattle attempted to rally yesterday but were unable to defend higher prices, finishing the session near the low end of the day’s range. We have seen a choppy sideways market for the last few weeks, and we would not be surprised to see that continue, with the expectation that fundamentals will be little changed in the near term.

Resistance: 130.75-131.575***, 132.00-132.50***, 134.575-134.85*** Pivot: 127.825-128.30 Support: 125.675**, 124.35**** Feeder Cattle (November)

Feeder cattle washed out all the gains from the previous five sessions and are threatening another break lower. Significant support comes in from 154.825-155.35. If the Bulls fail to defend this pocket, we could see the selling accelerate prices towards 151.375. This week marks the end of the week and quarter, which could add to the volatility.

Resistance: 160.825-161.40**** Pivot: 157.90-158.00 Support: 154.825-155.35****, 151.375** Lean Hogs (December)

December lean hogs gaped higher and finished the day limit up, giving us expanded limits for today’s session, 7.00. This week marks the end of the week and quarter, which could add to the volatility. With volatility comes irrationality.

Resistance: 83.20-83.60**, 84.375**, 86.05-86.25**** Pivot: 79.75 Support: 76.675-77.20****, 74.10-74.925***

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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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