Livestock Markets Look for Direction

Research Posts Livestock Round Up

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Live cattle and lean hogs were under pressure in yesterday’s trade while feeder cattle continued to consolidate.

Live Cattle

Technicals (December – Z)

December live cattle traded on both sides of unchanged yesterday but finished the day at the lower end of that, which was in negative territory.  Outside markets have stabilized from peak panic at the tail end of last week, that has so far not been able to offer much support to prices.  Support remains intact from 183.40-184.10.

Resistance: 187.25-187.72***, 190.17***

Pivot:  186.00-186.27

Support: 183.40-184.10**, 181.925-182.20****

Seasonal Tendencies

Below is a look at historical seasonality’s (updated each Monday) VS today’s prices (black line). 

*Past performance is not necessarily indicative of futures results. 

Feeder Cattle

Technicals (November – X)

November feeder cattle futures continue to consolidate, likely building up energy for a move.  There’s pretty stout support from 246.70-247.72, if the Bulls can defend that it could provide relief to the market, which has been under fire for the last month.  On the resistance side, The Bulls want to get back out above 251.77-252.32 to encourage buyers to step back in. 

Resistance: 257.47-258.45***, 262.07****

Pivot: 251.77-252.32

Support: 249.50-250.10**, 246.70-247.72***

Seasonal Tendencies 

Below is a look at historical seasonality’s (updated each Monday) VS today’s prices (black line).

*Past performance is not necessarily indicative of futures results.

Lean Hogs

Technicals (December – Z)

December lean hogs were lower in yesterday’s trade, finishing the session near our pivot pocket from 70.77-70.90.  The Bulls need to defend this pocket through today’s trade to keep the bottom from falling out.  The next support pocket doesn’t come in until 67.32-67.80.  On the resistance side of things, the 50 and 100 day moving averages are the lines in the sand to watch, coming in from 73.80-74.32.

Resistance: 74.00-74.500***, 77.70-78.10*** 

Pivot: 70.775-70.90 

Support: 67.32-67.80**

Seasonal Tendencies 

Below is a look at historical seasonality’s (updated each Monday) VS today’s prices (black line).

*Past performance is not necessarily indicative of futures results.

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. 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.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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