Will The Cattle Rally Continue?

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Live Cattle (December)

December live cattle saw their biggest weekly rally in what seems like a lifetime, finishing 5.05 higher for the week. Friday’s Commitments of Traders report showed Managed Money were net sellers of 3,613 futures/options. Keep in mind that this is a lagging indicator, taking data from the back half of the previous week and going through October 5th. It’s the trend of this data that’s important to keep an eye on. Technical resistance comes in.....Click here to get our (FULL) daily reports emailed to you!

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Feeder Cattle (November)

November feeder cattle surged higher last week, erasing nearly a month of losses in just a handful of sessions. For the week, November feeders were 8.25 higher. Our upside levels were achieved, we outlined our resistance pocket in last week’s reports as 160.825-161.40. If you had bought the dip earlier in the week, you may consider reducing that exposure. If you’re bearish, this might be a spot to consider.....Click here to get our (FULL) daily reports emailed to you!

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Lean Hogs (December)

Lean hogs took a dive last Monday and spent the rest of the week bouncing around like a bobber in choppy water. For the week, the December contract was 3.675 lower. Friday’s Commitments of Traders report showed Managed Money were net buyers of 9,513 futures/options, through October 5th. This puts their net position at 75,146 futures/options. As mentioned in the live cattle section, this is a lagging indicator, taking data from the back half of the previous week and going through October 5th. It’s the trend of.....Click here to get our (FULL) daily reports emailed to you!

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Dairy

Strong demand and a global slowdown in milk production are just a couple of the fundamental factors that have been driving both Class III and Class IV to prices last seen in May. We don’t really see a reason to pick this as the top, so waiting until something changes before adding short positions seems to be the smart play right now......Click here to get our (FULL) daily reports emailed to you!

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Call/Text/Email, Oliver with any questions.

Oliver@BlueLineFutures.com and 312-837-3938



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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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