Livestock Roundup 12/07/22
Posted: Dec. 7, 2022, 12:29 p.m.
Cattle SummaryDaily Cutout Values Choice: 242.65, Down .66 from the previous day. Select: 219.14 Down 1.97 from the previous day. Choice/Select Spread: 23.51 5 Area Average Cattle Price Live Steer: 155.38 Live Heifer: N/A Dressed Steer: N/A Dressed Heifer: 247.00 Daily Slaughter Estimated at 128,000. Unchanged from last week but 4,000 more than the same week last year. Feeder Cattle Index 12/05/2022: 178.53 12/02/2022: 178.14 |
Live Cattle (February)
Managed Money Position: 58,745 (Updated with the weekly CoT Report)
Seasonal Trend in Play: February live cattle have pulled back from November 27th to December 9th for 14 of the last 15 years, with the average pullback being roughly 3.00.
Techncials: It looks like the bearish seasonal for February live cattle is springing back to life in the final days. The end of the bearish seasonal is also the start of a Bullish seasonal for the April contract, we will put out more information on that this afternoon. As you can see on the chart below, yesterday's pullback was a big one, but it wasn't enough to do any significant damage to the chart.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Feeder Cattle (January)
Managed Money Position: -8,620 (Updated with the weekly CoT Report)
Seasonal Trend in Play: January feeder cattle have pulled back from November 29th to December 9th for 14 of the last 15 years, with the average pullback being roughly 3.00.
Technicals: The bearish seasonal for January feeder cattle is in its final days and so far, is sitting in the "loser category". Part of the reason for this is the counter seasonal weakness we've seen in the corn market. If corn can build a near term base down here and see some minor relief come into the market, we could see that pressure feeders back to the low end of the range, 176.325-176.70.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
|
Lean Hogs (February)
Managed Money Position: 38,818 (Updated with the weekly CoT Report)
Seasonal Trend in Play: A bullish seasonal trend for August lean hogs goes from December 6th to January 18th. This has played out for 12 of the last 15 years.
Technicals: February lean hogs got hit hard yesterday after failing to get out above trendline resistance on Monday. The pullback was sharp, but it wasn't enough to do any long-term damage to the technical landscape. Expect the volatility to linger.
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