Live Cattle (February)
February live cattle rallied to round out Friday’s trade on weather concern and hopes that cash would surge after the close. Both of those premium builders came up short which helped erase those gains in today’s session. Cash came in mostly steady with the previous week, the bulk coming in near 125. Weather over the weekend was ugly but it wasn’t as bad as it could have been. From the technical perspective, it remains a tug-of-war match between the bulls and the bears. Resistance remains intact from 127.225-127.90, above there is uncharted territory and finding meaningful resistance becomes more difficult. On the support side....For the full report, sign up for your FREE two-week trial!
Feeder Cattle (March)
March feeder cattle rallied at the tail-end of last week on increased premium ahead of the weekend. The market failed to find follow through buyers on the open this morning which in turn prompted selling against the top end of the two-month range. 146.85-147.975 has been our resistance pocket for some time now. Consecutive closes above here leaves the door open for an extension towards the contract highs from April, 157.625. This wouldn’t be a longer-term technical target, not something you’d see over the course of a few weeks. A failure at resistance keeps the market range-bound which could take us back to....For the full report, sign up for your FREE two-week trial!
Lean Hogs (February)
The failure and rejection against our resistance pocket from 70.00-70.40 last week was a total killer for the bull camp. That failure led to a technical breakdown in the back half of the week, spilling over into today’s session. February lean hogs finished the day near the low end of the day’s range, and the low end of the range from December. Those December lows represent our 4-star support pocket, we have had that listed as....For the full report, sign up for your FREE two-week trial!
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