What's Next For Cattle & Hog Prices?

Published on: 06:46AM Jan 14, 2020
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Live Cattle (February)

February live cattle rallied to round out Friday’s trade on weather concern and hopes that cash would surge after the close. Both of those premium builders came up short which helped erase those gains in today’s session. Cash came in mostly steady with the previous week, the bulk coming in near 125. Weather over the weekend was ugly but it wasn’t as bad as it could have been. From the technical perspective, it remains a tug-of-war match between the bulls and the bears. Resistance remains intact from 127.225-127.90, above there is uncharted territory and finding meaningful resistance becomes more difficult. On the support side of things....For the full report, sign up for your FREE two-week trial!

 

Feeder Cattle (March)

March feeder cattle rallied at the tail-end of last week on increased premium ahead of the weekend. The market failed to find follow through buyers on the open this morning which in turn prompted selling against the top end of the two-month range. 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)

The failure and rejection against our resistance pocket from 70.00-70.40 last week was a total killer for the bull camp. That failure led to a technical breakdown in the back half of the week, spilling over into today’s session. February lean hogs finished the day near the low end of the day’s range, and the low end of the range from December. Those December lows represent our 4-star support pocket, we have had that listed as....For the full report, sign up for your FREE two-week trial!

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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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