Live Cattle Drift Lower
Cattle Summary
Daily Cutout Values
Choice: 258.34, Down 1.45 from the previous day.
Select: 237.74, Down 1.94 from the previous day.
Choice/Select Spread: 20.60
5 Area Average Cattle Price
Live Steer: 144.85
Live Heifer:145.00
Dressed Steer: 229.85
Dressed Heifer: 229.80
Daily Slaughter
Estimated at 125,000 head, 1,000 more than last week and 6,000more than the same week last year.
Feeder Cattle Index
8/30/2022: 183.04
8/29/2022: 183.00
Technical Snapshot
Live Cattle
October live cattle broke lower yesterday, taking out the previous day's low, making its way closer to the cluster of major moving averages, which we've listed as near-term downside target for some time now. If the market is unable to defend this support pocket, it's possible that we see the selling accelerate. We are keeping a very close eye on outside markets as they remain volatile and seemingly uneasy.
Resistance: 145.10-145.975***, 147.35-147.50**
Pivot: 143.25-143.775
Support: 141.75-142.10****, 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.
Daily Cutout Values
Choice: 258.34, Down 1.45 from the previous day.
Select: 237.74, Down 1.94 from the previous day.
Choice/Select Spread: 20.60
5 Area Average Cattle Price
Live Steer: 144.85
Live Heifer:145.00
Dressed Steer: 229.85
Dressed Heifer: 229.80
Daily Slaughter
Estimated at 125,000 head, 1,000 more than last week and 6,000more than the same week last year.
Feeder Cattle Index
8/30/2022: 183.04
8/29/2022: 183.00
Technical Snapshot
Live Cattle
October live cattle broke lower yesterday, taking out the previous day's low, making its way closer to the cluster of major moving averages, which we've listed as near-term downside target for some time now. If the market is unable to defend this support pocket, it's possible that we see the selling accelerate. We are keeping a very close eye on outside markets as they remain volatile and seemingly uneasy.
Resistance: 145.10-145.975***, 147.35-147.50**
Pivot: 143.25-143.775
Support: 141.75-142.10****, 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.
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