Cattle futures take a breath as prices consolidate ahead of the holiday and Cattle on Feed report.

Live Cattle
Technicals (February – G)
February live cattle futures continued to pullback yesterday, but all in all the last two days have been healthy and constructive. A break and close back below 168 would start to raise caution flags. Keep in mind that there is a cattle on feed report Friday after the close and markets are closed on Monday. We remain upbeat on this market but are tempering the upside expectations into the end of the year.
The average analyst estimate for cattle on feed comes in at 102.2%. Placements are expected to be reported near 95.9%, and marketings are estimated to come in near 93.3%.
Resistance: 172.40-172.55***, 174.75-175.25***
Pivot: 168.00-168.50
Support: 166.25**, 162.25-162.60***

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 (March – H)
March feeder cattle futures have stalled out at an appropriate spot which could lend hand to further consolidation into the holiday trade and Friday’s Cattle on Feed report. 216.40-218.00 needs to hold for the Bull camp to keep hopes alive for the market forming a bottom.
Resistance: 223.00-224.52***, 232.20-233.50***
Pivot: 216.40-218.00
Support: 209.00-210.00**

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 (February – G)
February lean hog futures rejected resistance over the last two-day which could open the door for a pullback towards the lower end of the range near 67.00. A break and close above 72.00-72.50 would turn the tide into Bullish territory. So, if you are playing the short side against resistance, be sure to manage the risk appropriately.
Resistance: 72.00-72.50***, 75.00-76.00***
Pivot: 69.00-69.50
Support: 67.15-67.80***, 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.

Oliver Sloup, VP & Co-Founder, Blue Line Futures