Cattle futures had a rough month of August but started a new month of trade on strong footing. Is there more upside left in the coming weeks?
Live Cattle (December)
December live cattle futures had an impressive start to the month, especially when considering the risk-off atmosphere in the outside markets. The market again traded into resistance but has so far failed, keeping that pocket intact from 179.10-179.97. If the Bulls can chew through this pocket, we could see an extension towards the 50% retracement from the recent range as well as the mid-August highs, those levels form a resistance pocket from 181.325-182.07
- Resistance:179.10-179.97*, 181.325-182.07
- Pivot: 177.50
- Support: 175.92-176.10, 173.17-173.87

Chart of Interest
Below is a look at price averages for December live cattle over different time frames. Historically, the first half of September has been friendly to the market, whether or not that plays out this year or not is still TBD, but it’s off to a good start. Past performance is not necessarily indicative of future results.

Feeder Cattle (October)
October feeder cattle futures achieved their highest close since August 15th. An inverse head and shoulders pattern appears to be in the works, whether or not that is able to hold remains to be seen. We see the next significant resistance pocket coming in from 242.75-243.45. This pocket represents the 50% retracement from last month’s trading range as well as the mid-August highs. There are a lot of air pockets above this resistance pocket, so a breakout and close above could spark a bigger relief rally.
- Resistance: 242.75-243.45, 244.90-245.87*
- Pivot: 238.80-239.825
- Support: 236.57-236.75, 232.75-233.95*

Chart of Interest
Below is a look at price averages for October feeder cattle over different time frames. Historically, the start of September has been friendly to the market, whether or not that plays out this year or not is still TBD, but it’s off to a good start. Past performance is not necessarily indicative of future results.

Want to keep reading?
Subscribe to our daily Livestock Roundup for daily insights into Feeder Cattle, Live Cattle, and Lean Hogs technicals, including our proprietary trading levels, and actionable market bias.
Sign Up for Free Futures Market Research – Blue Line Futures