Is a bigger move on the horizon?
Monday’s Slaughter is estimated at 125,000. Unchanged from last week, but 9,000 more than the same week last year.
Monday’s Cutout Values
Choice: 270.55, Up 1.64 from the previous day.
Select: 242.66, Up .87 from the previous day.
Choice/Select Spread: 27.89
5 Area Average Cattle Price
Live Steer:142.12
Live Heifer: 139.98
Dressed Steer: 229.48
Dressed Heifer: 229.62
Live Cattle
Technicals (August): August live cattle futures came out of the gate strong to start the week but gave back some of those early games by the afternoon session. Though the price action was again disappointing as it continues to test the patience of the Bulls, there was no technical damage done. We remain optimistic and believe that a run into the April 25th gap is still possible, but we are starting to run against the shot clock and wouldn’t recommend holding your breath for that move.
Resistance: 137.95-138.75***, 140.275**, 141.625-141.825****
Pivot: 135.575-135.725
Support: 134.20**, 132.775-133.30***, 129.975-130.725****
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.
Monday’s Cutout Values
Choice: 270.55, Up 1.64 from the previous day.
Select: 242.66, Up .87 from the previous day.
Choice/Select Spread: 27.89
5 Area Average Cattle Price
Live Steer:142.12
Live Heifer: 139.98
Dressed Steer: 229.48
Dressed Heifer: 229.62
Live Cattle
Technicals (August): August live cattle futures came out of the gate strong to start the week but gave back some of those early games by the afternoon session. Though the price action was again disappointing as it continues to test the patience of the Bulls, there was no technical damage done. We remain optimistic and believe that a run into the April 25th gap is still possible, but we are starting to run against the shot clock and wouldn’t recommend holding your breath for that move.
Resistance: 137.95-138.75***, 140.275**, 141.625-141.825****
Pivot: 135.575-135.725
Support: 134.20**, 132.775-133.30***, 129.975-130.725****
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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