| Livestock Rundown | 5/23/2023

Posted: May 23, 2023, 9:06 a.m.

Live Cattle

Seasonal Trend in Play

  • The next Seasonal Trend for live cattle is for the October contract and starts on May 25th.  
LEQ2023_2023-05-23_08-00-59

Technicals (August - Q)

  • August live cattle futures had a minor pullback yesterday, following Friday's Cattle on Feed report that wasn't able to provide the Bulls with new Bullish news.  That ultimately led to...

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Feeder Cattle

Seasonal Trend in Play: 

  • None
GFQ2023_2023-05-23_08-02-41

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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 made new lows in yesterday's trade as the selloff continues to snowball.  With prices at new lows, finding meaningful support becomes more or less a fool's errand.  As a technician, we derive support and resistance levels from previous interactions between buyers and sellers.  At new highs or lows, we don't have that.  We can use extensions to come up with something, but it isn't as significant as using previous price points.

Resistance: 87.35-87.825**** 92.75**, 94.15-95.00****

Support: 81.50-82.00*

HEM2023_2023-05-23_08-04-37


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Livestock Feeder Cattle Lean Hogs Live Cattle

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