Bearish Live Cattle Seasonals Take Center Stage
Posted: Aug. 15, 2023, 8:10 a.m.
Live Cattle |
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Technicals (October- V) October live cattle futures are flirting with trendline support from the May lows. A failure to defend this could trigger additional long liquidation with the next objective coming in at the low end of recent range, 178.62-179.10. The market isn't "in trouble" until that pocket gives way. Resistance: 183.72-184.35***, 185.75*** Pivot: 181.52-182.17 Support: 178.62-179.10***, 176.20-177.25**** |
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Below is a look at the seasonal tendencies for October live cattle. |
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Feeder Cattle |
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Technicals (October - V) Feeder cattle futures continue to be mostly rangebound which has kept are daily commentary pretty blah. Technical levels remain intact. Resistance: 256.00-256.50** Pivot: 252.60-253.00 Support:247.40-247.75*** |
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Lean HogsTechnicals (October - V) October lean hogs broke below support yesterday which has done some damage to the chart. If the Bulls fail to find their footing today it could lead to additional selling pressure with 77.57-77.80 being the next downside target for the Bears. Resistance: 85.50-86.40****, 87.77-88.32*** Pivot: 80.55-81.50 Support: 78.45**, 77.57-77.80**** |
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