Futures Commentary and Analysis

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Livestock Roundup (2.14.18)
Oliver Sloup - IF - Wed Feb 14, 5:25PM CST

Cattle Commentary: Cattle futures were relatively quiet again in todays session. We wouldnt be surprised to see that continue in the near term, but at some point, it will break one way or the other. We continue to feel that the opportunity is o the buy side and would welcome a pull back to get more aggressive (see technical below). Cash trade has essentially been non-existent this week. 124 was passed on todays Fed Cattle Exchange which yielded zero sales. Last weeks trade was 126 live and 200 dressed. April live cattle finished the day up .725 at 125.50, trading in a range of .90. March feeder cattle finished the day up 1.075 at 148.35, trading in a range of 1.70 on the session.

PM Boxed Beef / Choice / Select

Current Cutout Values: / 207.81/ 203.51

Change from prior day: /.45/ .38

Choice/Select spread: / 4.30

Cattle Technicals

Live Cattle (April)

April live cattle posted an inside day (trading within the previous days range) as it straddled 125.45 the whole day; a Fibonacci retracement we have been keeping an eye on. Todays price action could be spun either way, so we will call it what it is, neutral. Significant resistance for the market comes in from 126.125-126.30. If the bulls are able to chew through this pocket, we would not be surprised to see a breakout towards the contract highs of 130.10 from November 6th. A failure to breakout may encourage some light long liquidation and press prices back towards significant support which we see from....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 feeders held yesterdays lows which is constructive for prices. The market finished the session in our first resistance pocket from 148.35-148.65. This pocket represents the recent highs and the 100-day moving average. The bulls want to see a close above to here to invite momentum buyers back into the market. There are a few hurdles just above 150, but the market looks constructive as it continues its trend of higher lows and higher highs. On the support side of things 146.45-146.75, a break down below would....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)

Lean hog futures continued to chop the bulls and the bears today with the bulls being the ultimate victor. April futures finished the session up 1.15 at 70.575, trading in a range of 2.20. 69.70-70.00 was our first resistance pocket, this was taken out with conviction which led to an extension towards our next resistance pocket which we had outlined from 71.15-71.35 (todays high was 71.275). Bulls will want to chew through that pocket to encourage additional buying towards....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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