Livestock Roundup 10/24/22
Posted: Oct. 24, 2022, 9:09 a.m.
Watch us on RFD-TV, today at 9:45 AM CT
Cattle Summary
Daily Cutout Values
Choice: 253.71, Up .09 from the previous day.
Select: 224.36, Up 2.28 from the previous day.
Choice/Select Spread: 29.35
5 Area Average Cattle Price
Live Steer: 150.06
Live Heifer: 149.83
Dressed Steer: 235.26
Dressed Heifer: 235.50
Daily Slaughter
Estimated at 122,000. 10,000 more than last week and 10,000 more than the same week last year.
Feeder Cattle Index
10/19/2022: 172.77
10/19/2022: 172.03
Cattle on Feed
On Feed: 99.1%; in line with estimates.
Placements: 96.2%; in line with estimates.
Marketings: 104%; in line with estimates.
Live Cattle
December live cattle futures made new contract highs into the weekend, which officially puts the charts in uncharted territory. With the market at new highs, finding the next meaningful resistance point becomes more difficult. The RSI (relative strength index) is at 66.85, not yet what would be considered "overbought" but at the highest levels since February.
Seasonal Trend in Play: April live cattle have been higher from October 5th-November 11th for 13 of the last 15 years.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Hogs Summary
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 85.00-100.00
Weighted Average: 88.89
Change from Prior Day: -5.85
Head Count: 3,588
Daily Hog Slaughter
478,000. Up 5,000 from last week and 5,000 from last year.
Lean HogsLean hogs continued their rally on Friday, trading back to the highest price since marking contract highs on August 16th. Seasonally this is a weaker time of year, but exports were solid last week which may have helped spur the recovery. The RSI is at 68.61, not yet in overbought territory, but getting close. Seasonal Trend in Play: December lean hogs have been lower from October 15th-November 6th for 12 of the last 15 years. |
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Sign up for a Free Trial
Start Trading with Blue Line Futures
Don't have an account with Blue Line Futures?
Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. 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.
Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.
With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500
Like this post? Share it below:
Back to Insights
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Free Trial