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Live Cattle

Technicals (October- V) October live cattle gave back gains from Friday, in yesterday's session, taking prices right back to the low end of our pivot pocket. Yesterday's weakness may lead to continued consolidation and potentially long liquidation.  A failure to hold ground this morning could take us to retest the bottom end of the recent range near 178.62-179.10.  Yesterday's 5-area average price for live steers was reported at 186.70. Resistance: 183.72-184.35***, 185.75*** Pivot:  181.52-182.17  Support: 178.62-179.10***, 176.20-177.25****

Feeder Cattle

Technicals (October - V) Feeder cattle have struggled to continue making new highs while corn continues to retreat, a caution flag for the Bulls.  Yesterday's losses took prices back to our support pocket.  So far, it's just erasing Friday's rally and didn't cause much technical damage.  If anything, Bulls moral was damaged more.  If this weakness persists, and our support pocket gives way, a retest of the low end of the range seems likely, we've defined that as 247.40-247.75. Resistance: 256.00-256.50** Pivot:  254.20  Support: 252.60-253.00***, 247.40-247.75***

Lean Hogs Technicals (October - V) Yesterday morning we talked about a retest of the 200-day moving average being a target, that was coincidently achieved almost to the T in yesterday's trade.  The Bulls need to get out above that resistance pocket to spur another leg higher.  A failure to do so could make this a sideways trade with support near 80.55-81.50. 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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