Livestock Roundup 11/18/22
Posted: Nov. 18, 2022, 9:16 a.m.
Cattle SummaryDaily Cutout Values Choice: 257.10, Up .01 from the previous day. Select: 231.74, Up .39 from the previous day. Choice/Select Spread: 25.36 5 Area Average Cattle Price Live Steer: 152.02 Live Heifer: 151.41 Dressed Steer: 241.94 Dressed Heifer: 241.52 Daily Slaughter Estimated at 129,000. Unchanged from last week but 7,000 more than the same week last year. Feeder Cattle Index 11/16/2022: 175.39 11/15/2022: 174.98 Cattle on Feed Estimates On Feed: 98.3% Placements: 96.4% Marketings: 100.8% |
Live Cattle
December live cattle futures were able to chew through resistance yesterday, we've defined that as 152.025-152.375. If the Bulls can keep the momentum going through today's session, we could see the market extend towards the highs of the month, 153.425.
Coming Soon: Seasonal Trend Alert for February Live Cattle that starts on November 27th. Contact us for more information.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Feeder Cattle
Feeder cattle futures caught a bid yesterday, breakout out above our pivot pocket which opened the door for an extension towards our resistance pocket, 180.425-180.925. The next level above here would be 181.75-181.875 which represents the 200-day moving average and the high of the month.
Coming Soon: Seasonal Trend Alert for January Feeder Cattle that starts on November 27th. Contact us for more information.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Hogs Summary
|
Lean Hogs
The market has been treading and holding support near the 100 and 200 day moving averages (84.62 and 85.30). The Bulls want to see these defended. A failure could take us back near the 83 handle. resistance remains intact from 86.05-86.75.
Seasonal Trend in Play: December lean hogs have trended higher from November 9th to November 25th for 13 of the last 15 years.
For more information or ideas of how to trade this trend, contact our trade desk: 312-837-3938 or email Seasonals@BlueLineFutures.com
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Sign up for a Free Trial
Start Trading with Blue Line Futures
Don't have an account with Blue Line Futures?
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.
Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.
With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500
Like this post? Share it below:
Back to Insights
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Free Trial