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Livestock Roundup

January 6, 2020

Live Cattle (February)

 

The market retreated on Friday as a risk off atmosphere evolved, following an increase in tensions between the US and Iran. This prompted some questions regarding to the possible spillover affect on the trade negotiations with China.  Market participants had the weekend to digest the information and the market recovered those losses today, taking us right back to the December 27th highs.  The resistance pocket we laid out last week remains intact from....For the full report, sign up for your FREE two-week trial!

 

 

Feeder Cattle (January)

 

Feeder cattle rallied hard today, posting the highest close since December 13th.  Our 4-star support pocket held on a closing basis last week, we defined that as 142.85-143.125.  The inability to breakdown below with conviction invited buyers into the market today, sparking a surge towards our 4-star resistance pocket....For the full report, sign up for your FREE two-week trial!

 

 

Lean Hogs (February)

 

February lean hogs crashed on Friday, closing limit down.  Much of this was on fears that increased tensions with Iran could throw a wrench in negotiating trade with China.  Perhaps there is a possibility that it could happen, but it is far from a probability.  Soybeans also sold off but that’s more reasonable considering they rallied 75 cents in December.  The limit down move Friday and follow through this morning seemed to be overkill in our minds and presents an opportunity to look back to the long side.  The past two sessions did do some technical damage, the bulls need to achieve consecutive closes back above....For the full report, 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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