Daily Livestock Commentary
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Live Cattle (February)

February live cattle spent the day under moderate pressure, remaining trapped within the recent range, 124-126. Todays session marked the 25th of the last 27 sessions that we have closed between 123.85 and 126.00. If we continue to defend the 126 level, we could form a bearish head and shoulders pattern, a break below the low end of the range would confirm that. The next line support pocket comes in from 121.775-122.35, below that is a lot of air. We started to get some cash trade developing in the south with whispers of 118-119 in Kansas and 118 being passed on in Texas. Tomorrows Fed Cattle Exchange has 1,068 head offered. If we start to see cash stall and/or retreat, that could be a catalyst to the board coming off. There are a bunch of ways to slice the pie, futures, options or a combination, feel free to reach out. If you want to be long the market, theres a seasonal coming up that is in your corner, it is as follows....Sign up for your FREE two-week trial!

Feeder Cattle (January)

January feeder cattle managed to creep higher, poking its head above the 50 and 200 day moving average but failing to stage a convincing breakout. The more significant resistance pocket we are watching comes in from 143.275-143.70. This is the right shoulder of a potential head and shoulders pattern (bearish). The bears have the technical advantage until we see consecutive closes above this pocket. On the support side of things, 139.625-139.90 is the first line in the sand but the more significant pocket comes in from....Sign up for your FREE two-week trial!

Lean Hogs (February)

February lean hogs finished the day higher on the back of some positive trade headlines and technical support holding in yesterdays session. If the bulls can continue to defend support, we could see the e market work back towards the top end of the recent range, 69.325-70.05. A conviction close above here is what the bulls really NEED to see, that could spark a bigger rally, towards....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.