Futures Commentary and Analysis

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Livestock Roundup (2.13.18)
Oliver Sloup - IF - Tue Feb 13, 5:46PM CST

Cattle Commentary: Cattle futures seemed somewhat subdued today as market participants waited for new news to cross the wires, only to be let down by a relatively blah trading session. April live cattle finished the session up .25 at 125.25, trading in a range of 1.20. March feeders finished the day down .05 at 147.625 is trading in a range of 1.575. Cash trade has been light over the last week as packers are in no rush to do anything here. Tomorrows Fed Cattle Exchange has a whopping (sarcasm) 255 head listed for tomorrow. We remain optimistic about futures prices over the intermediate term but would not be surprised to see the market lull people into a little deeper sleep before making the next move. As mentioned yesterday we will continue to keep an eye on the outside markets, if they pick up in volatility you can expect that to spill over into cattle. Boxed beef prices were slightly lower this afternoon

PM Boxed Beef / Choice / Select

Current Cutout Values: / 207.36/ 203.13

Change from prior day: / (.88) / (.84)

Choice/Select spread: / 4.23

Cattle Technicals

Live Cattle (April)

April fat cattle poked its head above the highs over the previous five sessions but failed to attract any additional buying interest. Though we are optimistic on the market, we feel it is prudent to take advantage of opportunities. 125.45 is the first line in the sand the bulls want to close above but the true breakout would occur from a close above....Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

Feeder Cattle (March)

March feeder cattle tried to work lower but bulls pounced on the close. Closing prices remain trapped in between the 100-day moving average and the 50% retracement from the August lows to the November highs. We remain friendly on the market but remain nimble at these levels. A break and close above resistance which we have had listed as 148.35-148.65 opens the door for momentum buyers to jump on the train and take a ride back above....Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

Lean Hog Commentary and Technicals (April)

April lean hogs failed miserably at using Mondays session to feed off of. Futures finished the session down 1.125 at 69.40, trading in a range of 1.125. The inability to gain traction led to additional long liquidation and a dreadful close back below 69.70. If the bulls cannot manage to stabilize prices above this level then we expect more pressure to come into the market. The first support pocket comes in from....Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

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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.


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