February live cattle traded on both sides of unchanged today as prices remain largely range-bound. We apologize for sounding like a broken record, but that’s what a range-bound trade will do. Resistance remains intact from 127.225-127.90, above there is uncharted territory and finding meaningful resistance becomes more difficult. On the support side....For the full report, sign up for your FREE two-week trial!
Feeder Cattle (March)
March feeder cattle saw follow through pressure in the early morning trade but managed to finish the day near unchanged. 146.85-147.975 has been our resistance pocket for some time now. Consecutive closes above here leaves the door open for an extension towards the contract highs from April, 157.625. This wouldn’t be a longer-term technical target, not something you’d see over the course of a few weeks. A failure at resistance keeps the market range-bound which could take us back to....For the full report, sign up for your FREE two-week trial!
Lean Hogs (February)
February lean hogs managed to defend our 4-star technical support, we’ve listed that as 65.40-65.50, the low end of December’s range. The market managed to rally today, for no real reason. We saw a dip towards the close with reports that tariffs were going to remain in place, but the market quickly moved passed this and finished near the high end of the day’s range. Significant resistance comes in....For the full report, sign up for your FREE two-week trial!
Feel free to contact Oliver with any questions or comments
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