Live cattle

February lean hogs continued their slide lower today as the market threatens to close the gap from September 11th, which comes in from 67.825-68.525.
December live cattle started the week under moderate pressure but were able to defend the lower end of last weeks trading range, 118.20-118.525. So long as the bulls continue to defend this pocket, they remain in clear control.
December lean hogs managed to breakout above the top end of the recent range on the back of demand firming up. The bulls need to see follow-through buying while defending support.
The Live Cattle market has been overbought for the better part of the last two and a half weeks and there’s no real sign of it ending.
Oliver Sloup from BlueLine Futures breaks down the livestock futures markets in his weekly "2 Minute Drill".
December lean hogs tried to stage a rally but ended up finishing the day closer to unchanged. We continue to believe there is a longer-term upside opportunity.
December live cattle managed to work into our resistance pocket today, we have defined that as 111.175-111.50, this pocket represents previously important price points, including the gap from August 9th.
Lean hogs started the day with a gap lower on what was thought to be a bearish Hogs & Pigs report on Friday.
Livestock futures gapped higher to start the week, this on the back of a friendly cattle on feed report and a revision to Friday’s headline suggesting China canceled the U.S. farm field trip.
April live cattle managed to work back towards yesterday’s/last week’s highs, just shy of 116.