Talks of a firm cash trade circled yesterday afternoon, will that help futures recover some of this week’s losses?
Live Cattle
Technicals (December – Z)
December live cattle futures traded on both sides of unchanged yesterday as the market continues to catch its breath following Monday’s sharply lower session. Rumblings of a strong cash market yesterday afternoon may help futures repair some of the technical damage that has been done on the chart.
Resistance: 182.00-182.50***
Pivot: 180.35
Support: 175.85-176.55***, 172.80-172.90**
Seasonal Tendencies
Below is a look at historical seasonality’s (updated each Monday) VS today’s prices (black line).
*Past performance is not necessarily indicative of futures results.
Feeder Cattle
Technicals (January – F)
Feeder cattle futures weren’t able to get much going yesterday with prices closing near the lower end of the day’s range. Support remains intact from 233.37-234.95. A break and close below that pocket could spur additional technical selling pressure. On the resistance side, the Bulls want to see a close above our pivot pocket from 239-240 to help spark a bigger recovery rally.
Resistance: 242.32-243.05***, 246.42
Pivot: 239-240
Support: 233.37-234.95***, 229.00-229.50**
Seasonal Tendencies
Below is a look at historical seasonality’s (updated each Monday) VS today’s prices (black line).
*Past performance is not necessarily indicative of futures results.
Lean Hogs
Technicals (December – Z)
December lean hog futures were able to keep Wednesday’s momentum going with a strong close above our pivot pocket yesterday. The Bulls will want to defend that as support in today’s trade, that comes in from 67.32-67.80. On the resistance side, the next price pocket comes in from 70.775-70.90.
Resistance: 70.775-70.90**, 74.00-74.500***
Pivot: 67.32-67.80
Support: 65.40-65.67**
Seasonal Tendencies
Below is a look at historical seasonality’s (updated each Monday) VS today’s prices (black line).
*Past performance is not necessarily indicative of futures results.
