Cattle Futures Retreat Ahead of Cattle on Feed

Research Posts Livestock Round Up

/ by nawadblueline | Leave a comment

Cattle futures dive lower yesterday as longs liquidate ahead of today’s Cattle on Feed report.

Live Cattle

Technicals (February – G)

February live cattle futures rolled back over yesterday, erasing majority of the gains from the previous two sessions.  172-180 continues to look like the probable range.  A breakout above or below those levels could spur more momentum in that direction.  Keep in mind that we do have a Cattle on Feed report out after the close which could lead to a choppy trade as traders position into that. 

Resistance: 182.00-182.50**, 184.625 -185.00**, 186.275**

Pivot: 180.325-181.00 

Support: 175.85-176.55***

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 gave back nearly three days of gains in yesterday’s trade and have so far marked a lower high.  Lower highs have been followed up by lower lows over the last few months, will that trend continue? TBD. 

Resistance: 230.70-231.42***, 233.37-234.95***

Pivot:  227.425 

Support: 223.625**

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 hog futures dipped lower yesterday but were able to defend the lower end of our pivot pocket from 70.00-70.25 which ended up offering support to prices into the close.  The 50-day moving average at 71.67 will be the first hurdle for the Bulls today.  

Resistance:  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. 

Oliver Sloup, VP & Co-Founder, Blue Line Futures

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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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