Live Cattle are on the MOOOOVE
Watch us on RFD-TV, today at 9:45 AM CT!
Cattle Summary
Daily Cutout Values
Choice: 257.26, Down .75 from the previous day.
Select: 234.73, Down 1.31 from the previous day.
Choice/Select Spread: 22.53
5 Area Average Cattle Price
Live Steer: 142.17
Live Heifer: 141.54
Dressed Steer: 226.63
Dressed Heifer: 227.19
Daily Slaughter
Estimated at 127,000. 4,000 more than last week and 7,000 more than the same week last year.
Feeder Cattle Index
9/08/2022: 181.24
9/072022: 180.31
Technical Snapshot
Live Cattle
October live cattle futures staged an impressive rally on Friday, trading back near the top end of the August range. Resistance remains intact, we see that as 145.975-146.25. A breakout and close above this pocket could spur another leg higher, with the next and last meaningful resistance pocket coming in from 147.35-147.50. This pocket represents the contract highs from April. We remain skeptical of a bigger directional move, but it appears outside markets are taking on the "
risk-on" attitude which could be supportive to cattle.
Resistance: 145.975-146.25***, 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.
Cattle Summary
Daily Cutout Values
Choice: 257.26, Down .75 from the previous day.
Select: 234.73, Down 1.31 from the previous day.
Choice/Select Spread: 22.53
5 Area Average Cattle Price
Live Steer: 142.17
Live Heifer: 141.54
Dressed Steer: 226.63
Dressed Heifer: 227.19
Daily Slaughter
Estimated at 127,000. 4,000 more than last week and 7,000 more than the same week last year.
Feeder Cattle Index
9/08/2022: 181.24
9/072022: 180.31
Technical Snapshot
Live Cattle
October live cattle futures staged an impressive rally on Friday, trading back near the top end of the August range. Resistance remains intact, we see that as 145.975-146.25. A breakout and close above this pocket could spur another leg higher, with the next and last meaningful resistance pocket coming in from 147.35-147.50. This pocket represents the contract highs from April. We remain skeptical of a bigger directional move, but it appears outside markets are taking on the "
risk-on" attitude which could be supportive to cattle.
Resistance: 145.975-146.25***, 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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.