Tuesday's Slaughter is estimated at 124,000. 1,000 less than last week, but 1,000 more than the same week last year.
Tuesday's Cutout Values
Choice: 268.46, Down 2.14 from the previous day.
Select: 241.55, Down 1.35 from the previous day.
Choice/Select Spread: 26.91
5 Area Average Cattle Price
Live Steer: N/A
Live Heifer: N/A
Dressed Steer: N/A
Dressed Heifer: N/A
Live Cattle
Technicals (October): Consolidation is the name of the game for live cattle, as futures continue to tread on/near the 100-day moving average, 141.85. A break and close below this pocket could take us down to a 140.40-140.975. This pocket represents the 50 and 200 day-moving average, along with trendline support from the May 31st lows (all of which are climbing higher each day. As mentioned in previous reports and interviews, we would look at this as a potential buying opportunity for clients who want to be long.
Resistance: 145.10-145.975****, 147.35-147.50**
Pivot: 141.85
Support: 140.40-140.975***, 138.025-138.35****
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.
Tuesday's Cutout Values
Choice: 268.46, Down 2.14 from the previous day.
Select: 241.55, Down 1.35 from the previous day.
Choice/Select Spread: 26.91
5 Area Average Cattle Price
Live Steer: N/A
Live Heifer: N/A
Dressed Steer: N/A
Dressed Heifer: N/A
Live Cattle
Technicals (October): Consolidation is the name of the game for live cattle, as futures continue to tread on/near the 100-day moving average, 141.85. A break and close below this pocket could take us down to a 140.40-140.975. This pocket represents the 50 and 200 day-moving average, along with trendline support from the May 31st lows (all of which are climbing higher each day. As mentioned in previous reports and interviews, we would look at this as a potential buying opportunity for clients who want to be long.
Resistance: 145.10-145.975****, 147.35-147.50**
Pivot: 141.85
Support: 140.40-140.975***, 138.025-138.35****
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.