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Livestock Roundup (3.1.18)

Published on: 00:39AM Mar 02, 2018

Cattle Commentary:  Cattle prices had the bulls on pins and needles for much of the morning session with prices lingering near the bottom end of the range.  Prices managed to stabilize and close in positive territory.  April fats finished the session up .225 at 123.50, trading in a range of 1.575.  March feeders finished the day up .375 at 145.125, trading in a range of 1.875.  Outside market volatility crept back into the scene in the afternoon, this will be something to keep an eye on going into the weekend as it could have ripple effects.  Boxed beef was higher yet again today.

 

PM Boxed Beef / Choice / Select

Current Cutout Values: / 222.30 / 215.60

Change from prior day: /1.27 / .50

Choice/Select spread: / 6.70

 

Cattle Technicals

 

Live Cattle (April)

 

April live cattle fished for stops below significant support at 122.55 but couldn’t come up with much to spark a flood of long liquidation from funds which is somewhat of a silver lining for the bulls.  Prices managed to recover and close in positive territory, reclaiming the 50-day moving average.  Tomorrows session will be important for setting next weeks tone.  A retest of today’s lows will be the last thing the bull camp wants to see, that would likely be enough for funds to start reducing long exposure.  The next support pocket doesn’t come in until....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 tested the bottom end of our four-star support level today and managed to hold, we’ve been touching on this level for a while now and have outlined it as 143.50-144.30.  A retest of today’s lows would be extremely bearish in our opinion, making tomorrows session critical in setting the tone for next week’s price action.  A breakdown below opens the door to accelerated selling pressure and a run towards....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)

 

The market tried to get something going today but failed against previous support at 67.90.  April futures finished the session down .275 at 66.950, trading in arrange of .95.  If the bulls cannot get their footing soon, we expect to see long liquidation lead to a retest of....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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