Have Cattle Hit a Wall?

Research Posts Livestock Round Up

/ by nawadblueline | Leave a comment

Cattle futures have officially filled the gap, is there any more upside left?

Live Cattle

Technicals (December – Z)

December live cattle futures officially filled the gap yesterday, an impressive comeback from where things were just about a week and a half ago.  If the Bulls can keep the momentum going, the next upside objective would be the 50-day moving average at 186.28.  Personally, I think this area represents a good opportunity for Bulls to reduce exposure and Bears to consider positioning. 

Resistance: 186.275**

Pivot: 183.65-184.625  

Support: 182.00-182.50***, 175.85-176.55***

Check out yesterday’s 2-Minute Drill, breaking down the technical landscape for February live cattle futures:

2-Minute Drill: Live Cattle & Crude Oil – Blue Line Futures

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 (January – F)

Feeder cattle futures finally kicked it into gear yesterday staging an impressive 4.15 rally which took prices back near the gap from October 23rd.  This pocket from 242.32-243.05 will be a big inflection point for the market.  If the Bulls can chew through and close above, the next upside objective would be 244.65.

Resistance: 242.32-243.05***, 244.65**, 246.42

Pivot: 239-240

Support: 233.37-234.95***, 229.00-229.50**

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)

Lean hogs only needed one day to catch their breath, which rejuvenated the market yesterday, breaking back above the 50-day moving average for the first time since September which opens the door for a retest of the 100-day moving average at 73.80

Resistance: 71.92-72.10***, 74.00-74.500***

Pivot: 70.00-70.25 

Support: 67.32-67.80***, 65.40-65.67**

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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