Livestock markets continued their recovery rally yesterday which has led to some additional strength in the early morning trade.
Live Cattle
Technicals (December – Z)
December live cattle futures worked their way into the gap from last week but failed to close it completely. That continues to be the short-term upside target for the Bull camp, 183.65-184.625. If you have a bearish bias, this may be a pocket to consider looking to the short side.
Resistance: 183.65-184.625****
Pivot: 182.00-182.50
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)
January feeder cattle futures were able to stage a rally yesterday, but it lacked conviction considering the sharp and violent selloff over the last month. 239-240 is the first hurdle the Bulls want to get out above, if they can achieve that it could propel prices to the gap from 242.32-243.05.
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 continued their rally in yesterday’s trade, trading to the 50-day moving average and fizzling out some. This may give the market pause short term to catch it’s breath after a sharp rally from last week’s low.
Resistance: 71.92-72.10***, 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.
