Cattle Futures Tack on Another Month of Gains. How Much More Upside is Left? | Livestock Rundown | 6/1/2023 |
Posted: June 1, 2023, 8:01 a.m.
Live Cattle |
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Technicals (August - Q)
Resistance: Pivot: 164.57-165.05 Support: 160.80-161.55****, 159.175-159.75*** |
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Below is a look at this year's August contract versus the 5, 10, 15, 20, and 30 year averages for price action. Historically, June has been a choppy month, but as you can see, this year's prices haven't stayed in step with history (for good reason). |
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Below is a chart of 2023 August live cattle VS 2014 August live cattle. |
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Feeder Cattle |
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Technicals (August-Q)
Resistance: 235.50-236.00* Support: 231.25-232.225****, 225.925-226.80** |
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Below is a look at this year's August contract versus the 5, 10, 15, 20, and 30 year averages for price action. Historically, we've seen a pullback into the middle of the month. But we've also seen the market buck the historical trends since the start of the year. |
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Below is a chart of 2023 August feeder cattle VS 2014 August feeder cattle. |
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