Livestock Roundup 12/27/22
Posted: Dec. 27, 2022, 8:29 a.m.
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Live Cattle (February)
Managed Money Position: 65,465 (Chart and Changes Below; Updated with the weekly CoT Report)
Seasonal Trend in Play: A bullish seasonal for April live cattle goes from December 9th to January 2nd and has played out for 15 straight years.
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Feeder Cattle (January)
Managed Money Position: -1,638 (Updated with the weekly CoT Report)
Seasonal Trend in Play: None
Technicals: January feeder cattle were choppy last week, leaving the technical landscape little changed.
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Lean Hogs (February)
Managed Money Position: 36,386 (Updated with the weekly CoT Report)
Seasonal Trend 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 pulled back to the 50 and 100 day moving averages on Friday, after the market approached trendline resistance on Thursday. Resistance remains intact from 90.425-91.35. Despite being in a Bullish seasonal for August lean hogs, we like looking at the bearish side of February lean hogs so long as they can defend trendline resistance.
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