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Livestock Roundup

September 4, 2019

Live Cattle (October)

 

October live cattle continue to struggle as optimism for front month contracts seems rather mute.  We have been waving a caution flag on October futures for the past several weeks and continue to look out to April for value on the buy-side.  With the October contract, we wanted to see buyers step in with conviction after the hard break last month.  The lack of interest after a deep discount indicates that there may be something more troublesome behind the scenes.  Now, October is fighting against the clock. 

 

Resistance: 101.675**, 103.75-104.85***

Pivot: 100

Support: 97.775-98.10****

 

 

Feeder Cattle (October)

 

October feeder cattle managed to work higher on the back of a softer session in the corn market.  The market looks firm and could take prices back towards....Sign you for your FREE 2-week trial!

 

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 230.65 / 208.95

Change from prior day: / (.01) / 2.67)

Choice/Select spread: / 21.70

 

 

Lean Hogs (December)

 

December lean hogs failed to find follow through momentum after closing at the upper bounds of resistance in yesterday’s session, we have had that defined as 65.825-66.525.  If the bulls can chew through this resistance pocket, we could see an extension towards....Sign you for your FREE 2-week trial!

 

 

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Grains, Livestock, Gold, Oil, S&P, Currencies

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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