Lean Hogs Test "MUST HOLD" Support
Lean Hogs
The quarterly Hogs and Pigs report will be out after the close. Estimates are:
All hogs and pigs - 99.0%
Breeding herd - 98.9%
Market hogs - 99.0%
Technicals (August): Lean hog futures broke lower yesterday, trading into 4-star support from 103.00-103.95. This pocket represents trendline support and the 200day moving average. A failure here could take futures back near or below 100.00. On the resistance side of things, there’s not a lot until the 50-day moving average, today that comes in at 108.125.
Resistance: 108.125**, 109.45***, 110.075-110.225**, 111.30***
Support: 103.00-103.95****, 101.30-101.60**, 97.375-98.00****
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.
The quarterly Hogs and Pigs report will be out after the close. Estimates are:
All hogs and pigs - 99.0%
Breeding herd - 98.9%
Market hogs - 99.0%
Technicals (August): Lean hog futures broke lower yesterday, trading into 4-star support from 103.00-103.95. This pocket represents trendline support and the 200day moving average. A failure here could take futures back near or below 100.00. On the resistance side of things, there’s not a lot until the 50-day moving average, today that comes in at 108.125.
Resistance: 108.125**, 109.45***, 110.075-110.225**, 111.30***
Support: 103.00-103.95****, 101.30-101.60**, 97.375-98.00****
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.