Live Cattle (December)

December live cattle futures traded on both sides of unchanged yesterday, finishing the session pretty close to where it started. With the market little changed at the close, many of the support and resistance levels remain intact for today’s trade.

• Resistance:179.10-179.97*, 181.325-182.07
• Pivot: 177.50
• Support: 175.92-176.10, 173.17-173.87

Chart of Interest
Below is a look at price averages for December live cattle over different time frames. Historically, the first half of September has been friendly to the market, whether or not that plays out this year or not is still TBD, but it’s off to a good start. Past performance is not necessarily indicative of future results.

Feeder Cattle (October)
October feeders continued to fail near the recent highs and resistance which took prices back near the 20-day moving average at the close. the lows of the week from 236.20-236.75 will be watched closely. A failure here and there could be some air underneath the market. The next support pocket we see doesn’t come in until 232.75-233.95. That’s a little wider of a pocket than we’d typically like to use but those are just the current market conditions.

• Resistance: 242.75-243.45, 244.90-245.87*
• Pivot: 238.80-239.825
• Support: 236.20-236.75, 232.75-233.95*

Chart of Interest
Below is a look at price averages for October feeder cattle over different time frames. Historically, the start of September has been friendly to the market, whether or not that plays out this year or not is still TBD, but it’s off to a good start. Past performance is not necessarily indicative of future results.

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