Live Cattle Futures Prices Climb to a New Record

Posted: June 7, 2023, 8:05 a.m.

Live Cattle

Technicals (August - Q)

  • The sharp rally continues, with August live cattle marking their seventh consecutive day of new contract highs.  In this type of environment, finding meaningful resistance points is even more of a guessing game than it usually is.  172.00-172.75 is the pivot pocket we are keeping an eye on.  A move below there could spark profit taking, with a lot of airgaps down near 168.

 

Resistance:  

Pivot: 172.00-172.75

Support: 167.25-167.75***, 164.57-165.05***

LEQ2023_2023-06-07_07-46-04
     

Below is a look at the 2014 August live cattle contract.  As you can see, we saw some WILD swings on a weekly basis, to the tune of about $13.  At some point we will see wild swings in this year's market, when that happens is anyone's guess at this point.  

LEQ2014_2023-06-05_07-37-16

Feeder Cattle

GFQ2023_2023-06-07_07-51-18

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Lean Hogs

HEM2023_2023-06-07_07-52-42

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Livestock Feeder Cattle Lean Hogs Live Cattle

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