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Live Cattle

Technicals (October- V) October live cattle started the new month with a bang, trading sharply higher, trading nearly perfectly into our first resistance pocket 181.52-182.17 (the high was 182.15).  If the Bulls can find follow through and breakout above this pocket, it could extend the rally with the potential for new contract highs as a potential target.  Resistance: 181.52-182.17***, 184.35**, 185.75*** Pivot:  178.62-179.10 Support: 176.20-177.25****, 174.80**

 

Feeder Cattle

Technicals (October - V) Ocotber feeder cattle futures were able to start the new month of trade with a bang, falling short of a new contract high but able to post a new closing high.  There is minor resistance at 254.20, above that is 256.00.  On the support side of things, the Bulls want to defend our pivot pocket from 252.60-253.00. Resistance: 254.20**, 256.00** Pivot:  252.60-253.00 Support: 247.40-247.75***, 246.025**, 243.75***

 

Lean Hogs Technicals (October - V) October lean hogs were traded on both sides of unchanged yesterday, poking their head out above technical resistance but ultimately closing within that pocket, 85.50-86.40.  Another failure to breakout could spark some profit taking and consolidation from these levels.  First support comes in at our pivot pocket, 83.55. Resistance: 85.50-86.40****, 87.77-88.32***, 89.12-90.00** Pivot: 83.55 Support: 80.55-81.50***, 78.45**

 

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Livestock Live Cattle

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