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Livestock Roundup

January 2, 2020

Watch us on RFD-TV, today at 12:45pm CT!

 

Live Cattle (February)

 

February live cattle softened up in the final two days of the year, but the participation/volume was lackluster. With the holidays behind us, we expect participation to pick up which could lead to wider trading ranges to start the year. Resistance remains intact from 127.225-127.90, if the market cannot breakout above this pocket, we would expect to see prices retreat towards the bottom end of the recent range. That support pocket comes in from....Sign up for your FREE two-week trial!​

 

Feeder Cattle (January)

 

January feeder cattle futures finished the year little changed with extremely low volume in the final session. Resistance remains intact, we see that as 146.85-147.975. This is a wider pocket than we would like but it holds a lot of significance, including a key Fibonacci retracement and the recent highs. Consecutive closes above here would resume the uptrend and could take us to retest the April highs. On the support side of things....Sign up for your FREE two-week trial!​

 

Lean Hogs (February)

 

February lean hogs finished the final trading day of the year on softer ground, but the chart has become more constructive over the last month. We think there is potential for the market to move higher to start 2020, so long as the bulls can chew through some technical levels. The 100-day moving average comes in at 72.075, a close above here could spark a run towards significant resistance and our objective of ....Sign up for your FREE two-week trial!​

 

 

Feel free to contact Oliver with any questions or comments

Call or Text: 312-837-3938

Email: Oliver@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.

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