Daily Livestock Technicals & Fundamentals (10.9.18)

Last Trades:

LEZ8: -.85 at 117.40, trading in a range of 1.525

LEG8: -.475 at 122.40, trading in a range of 1.40

GFX8: -.825 at 157.60, trading in a range of 1.725

GFF8: -.825 at 154.00, trading in a range of 1.65


Cattle Commentary: Cattle futures posted lower lows for the fourth consecutive session as long liquidation takes us back towards the bottom end of what we think will be a new trading range, see the full technical breakdown below. Last Fridays Commitment of Traders report showed funds with a net long position of 81,094 contracts, the largest long position in a while. Some small cash trade was reported yesterday, coming in at 110.50 live and 174 dressed, not as firm as some market participants would like. Tomorrows Fed Cattle Exchange has 1,246 head offered.


PM Boxed Beef / Choice / Select

Current Cutout Values: / 202.85 / 192.72

Change from prior day: / (.36) / .91

Choice/Select spread: / 10.13


Tech Talk

Live Cattle (December)

Lower highs and lower lows is the trend to start the week, this as long liquidation continues from last weeks failure near the psychologically significant 120 handle. Last week we talked about the potential of a new trading range developing, we are looking for that to be....Click this link for a Free Trial at Blue Line Futures to view our entire technical outlook and actionable bias and levels.


Feeder Cattle (November)

November feeder cattle gave back gains from yesterdays session as the market continues to consolidate in a relatively tight range. As with live cattle, we are looking for feeders to settle into more of a range. The range we are watching for November feeders is....Click this link for a Free Trial at Blue Line Futures to view our entire technical outlook and actionable bias and levels.


Lean Hogs (December)

December lean hogs finished todays session down 1.00 at 56.55, trading in a range of 1.525. The gap lower is not what the bulls wanted to see but shouldnt come as much of a surprise after Mondays failure and reversal off of the 200-day moving average which came in at 58.20. We have been friendly the market and continue to be towards the bottom end of the trading range but are aware of the potential head and shoulders formation forming (a bearish chart pattern). There is significant support coming in from....Click this link for a Free Trial at Blue Line Futures to view our entire technical outlook and actionable bias and levels.


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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.