Cattle Market Update

Published on: 06:48AM Aug 29, 2019


October live cattle future finished today’s session at the low end of today’s range, and the lowest closing price in a week and a half. As stated in yesterday’s report, our outlook continues to be bleak for the October contract with the simple premise that we should have rallied harder after the deep discount two weeks ago. Sure, cash is higher than the board, but that doesn’t mean we have to see the board narrow the gap right away. We believe the board is telling us something else (price precedes news). With all our negativity around the October contract, we do see a bright spot in the April futures and will consider establishing longer term long positions with clients who agree.

Resistance: 101.675**, 103.75-104.85***

Pivot: 100

Support: 97.775-98.10****


Feeder Cattle (October)

Our skepticism on October feeder cattle has continued to come to fruition this week (knock on wood) as last week’s failure against resistance has invited sellers back in at better prices. The other thing to keep an eye on is.......

Click here for the FULL report!

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.