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Livestock Roundup (1.16.20)


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Live Cattle (February)

February live cattle made new lows for the week but managed to finish the day back near unchanged. Yesterdays Fed Cattle Exchange sold 435 head at 124.25, one lot in KS and one in TX. Yesterdays Phase-1 trade deal was as expected, mostly theatrics with little meaningful substance and as mentioned in our daily grain report several times, it was largely an agreement to proceed to Phase-2. With the market mostly range-bound techncials remain unchanged, so forgive the repetitiveness there. Resistance remains intact from....For the full report, sign up for your FREE two-week trial!

If you haven't ordered a complimentary 2020 Futures Calendar & Reference Guide, we will have some of these available to send out. This is your go-to resource for Government & Industry Report Dates, Contract Specifications, Futures and Options Expiration Dates. *Available to U.S. residents only.


If you haven't ordered a complimentary 2020 Futures Calendar & Reference Guide, we will have some of these available to send out. This is your go-to resource for Government & Industry Report Dates, Contract Specifications, Futures and Options Expiration Dates. *Available to U.S. residents only.

Feeder Cattle (March)

March feeder cattle worked lower yesterday testing and holding our first support level, 144.275. If we see follow through pressure, we could see the market work back towards the lower end of the intermediate term range, 141.325-142.35. This pocket represents the spike low from January 2nd, a key retracement, and other previously important price points. Our 4-star resistance pocket remains intact and could prove to be too big of a barrier for the bull camp to overcome, that comes in from....For the full report, sign up for your FREE two-week trial!


Lean Hogs (February)

February lean hogs were lower for much of the session but managed to finish closer to the high end of the days range. The bulls need to see prices back above....For the full report, sign up for your FREE two-week trial!


Feel free to contact Oliver with any questions or comments

Call or Text: 312-837-3938

Email: Oliver@BlueLineFutures.com


Oliver@Bluelinefutures.com

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About the author


Oliver Sloup is Vice President of Blue Line Futures, a leading futures and commodities brokerage firm located at the Chicago Board of Trade. Blue Line Futures mission is to put the customer first, and that means bringing YOU the best customer service, consistent and reliable research and state of the art technology.  Oliver has been a guest on CNBC and Bloomberg, among others.  Oliver has over a decade of trading experience. Prior to Blue Line Futures, Oliver worked as the Director of Managed Futures at iiTRADER.

 

 

Contributing author since 10/6/17 

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