Cattle finish higher!

Last Trades:

LEQ8:1.125 at 104.975, trading in a range of 1.90

LEV8:1.35 at 107.60, trading in a range of 1.85

GFQ8:1.35 at 150.75, trading in a range of 1.85

GFU8:1.325 at 150.75, trading in a range of 1.525

Cattle Commentary:Headline risk from Tuesday afternoon was overdone and brushed aside in todays session, for both cattle and the outside markets. Cattle futures saw a continuation from yesterdays test and spring board off trendline support which we had outlined as 102.40-102.60. We have been outspoken about there being value down at those lower levels of support and believe that we could see the market work higher to round out the week. Outside of the technicals, we felt that cash could avoid rolling over this week which was another reason we like being on the buy-side in August and October live cattle. Cash bids have surfaced from 108-110 in the first half of the week, lower from last but nothing egregious.

PM Boxed Beef / Choice / Select

Current Cutout Values: / 206.58 / 197.01

Change from prior day: / (.86) / (.13)

Choice/Select spread: / 9.57

Click this link to watch our "2 Minute Drill" on

Live Cattle (August)

Resistance: 105.35-105.65**, 107.75-108.45***

Support: 103.925**, 102.40-102.60***, 101.65**

Feeder Cattle (August)

Resistance: 151.90**, 153.05-154.15***, 155.50-155.975****

Support: 147.95-148.15**, 145.50-146.25***

Lean Hog Commentary and Technicals (August)

Resistance: 71.05**, 72.45***, 73.275-74.00**

Support: 68.50**, 64.00-64.50**

Sign up for a free trial of 1 or all 5 of our daily Blue Line Express commodity reports!

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.