LeRoy Coop
Departments
Cash Bids
Market Data
News
Ag Commentary
Weather
Resources
|
Are cattle futures setting up for a breakout?Live CattleTechnicals (June-M) June live cattle were able to continue higher in yesterday’s trade, achieving the highest daily close since March. The chart looks like it could make a leg higher if we can see consecutive closes above resistance. Potentially that would be enough of a catalyst to encourage some momentum traders into the market. The cash market remains steady which is also a silver lining for the Bulls. This morning’s weekly export sales report came in at 15,100 MT for 2024 were up 23 percent from the previous week, but down 11 percent from the prior 4-week average. Resistance: 178.45-178.80*, 179.65-180.75 Pivot: 175.80-176.20 Support: 172.90-173.425* 169.00-170.00* Feeder CattleTechnicals (August – Q) Resistance: 258.00-258.50, 263.325-264.875* Pivot: 254.025-255.00 Support: 248.30-250.075**, 243.27 Lean Hogs…Want to keep reading?Subscribe to our daily Livestock Roundup for daily insights into Feeder Cattle, Live Cattle, and Lean Hogs technicals, including our proprietary trading levels, and actionable market bias. https://bluelinefutures.com/2023-signup/?utm_source=Oliver-Sloup-Barchart Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. 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. On the date of publication, Oliver Sloup did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. |
|