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Live Cattle

Seasonal Trend in Play The next Seasonal Trend for live cattle is for the October contract and starts on May 25th.

 

Technicals (June - M) June live cattle are bumping their head against trendline resistance from the April 13th contract high.  Typically, we see the market taper off near this time of year, but a strong fundamental back drop has helped buck the trend.  Funds have reduced some long exposure over, looking at the recent CoT report, but they remain historically.  We wouldn't be terribly surprised to see some position squaring ahead of Friday's Cattle on Feed report.  Support and resistance levels remain intact for today's trade.    Resistance:  165.75-166.275*** Pivot: 164.00-164.25  Support: 161.075-161.925***, 159.175-159.75***

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Feeder Cattle

Seasonal Trend in Play:  None   Technicals (August-Q) Feeders were yet again the leaders, with the August contract coming into arm's length of testing and making new contract highs.  We feel that though the market may continue to grind higher, this would be an excellent spot to consider hedging prices if needed.  There are a number of ways to do that including futures, options, or a combination.  Contact our trade desk to discuss.    Resistance: 231.25-232.225**** Pivot: 225.925-226.80 Support: 219.225-221.00****, 213.00-214.00**

Lean Hogs

Seasonal Tend in Play December lean hog futures have trended higher from March 30th to June 10th for 12 out of the last 15 years.   Technicals (June - M) June lean hogs had another day of gains yesterday, is the bottom finally happening?  Expectations are still tempered.  A close above our pivot pocket from 86.15-87.15 is a step in the right direction though and could open the door for a run back towards 92.75.   Resistance: 92.75**, 94.15-95.00**** Pivot: 86.15-87.15 Support: 82.00*

Seasonal Tendencies Below is a look at seasonal tendencies over the 5, 10, 15, 20, and 30 year averages.  Historically, June lean hogs make a good attempt to carve out a low during this time of year.

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Livestock Feeder Cattle Lean Hogs Live Cattle

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