A choppy trade in livestock on Tuesday. More of the same as we enter the last trading day of the month?
Live Cattle
Technicals (October – V)
Live cattle futures were weaker early on but managed to claw back to positive territory by the close. Yesterday’s trade does little to change the technical landscape or our bias as we enter the last trading day of the month.
Tuesday afternoon’s daily livestock summary showed cutout values on the softer side up with choice cuts down .33 to 314.48 and select cuts down .14 to 301.38. Cash trade was light with little reporting on the 5-area average. Tuesday’s slaughter was reported at 123k head, on par with last Tuesday and just 2k less than the same day last year.
- Resistance: 190.35-191.00***
- Pivot: 187.60-188.55
- Support: 184.00-185.00, 181.725-182.25*
Below: Daily chart of October live cattle

Below: Seasonal Tendencies for October live cattle. Past performance is not necessarily indicative of future results.

Feeder Cattle
Technicals (August – Q)
August feeder cattle futures traded on both sides of unchanged in yesterday’s session, doing little to alter the technical landscape and our bias. Keep in mind that today is the last trading day of the month, which could play a role in price action.
- Resistance: 259.65-260.25, 262.25-263.00*
- Pivot: 256.125-256.70
- Support: 253.40-254.35*, 250.80-251.125
Below: Daily chart of August feeder cattle, dating back to November.

Below: Seasonal Tendencies for September feeder cattle. Past performance is not necessarily indicative of future results.

Lean Hogs
Technicals (October – V)
Lean hogs were lower again in yesterday’s trade but were able to defend support on a closing basis, closing right in the middle of our pocket from 74.00-75.00. The Bulls will want to defend this through today’s trade, a failure to do so could trigger another wave of selling pressure with the next line in the sand coming in near 72.475.
- Resistance: 78.75-79.42, 81.80-82.00*
- Pivot: 76.50-77.25
- Support: 74.00-75.00, 72.42-72.475

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