Lean hog volatility lingers near multi-year lows while Funds are nearing record net long. What could go wrong?
Live Cattle
December live cattle opened lower put quickly found their footing to recoup lost ground and finish the day in positive territory. Friday’s high des remain intact, which was just shy of our resistance pocket from 189-47-190.075. This pocket will continue to be monitored closely as it does represent the upper end of the risk range dating back to May, June, and July.
Resistance: 189.47-190.075, 191.47-191.62
Pivot: 187.675-188.00
Support: 187.00-187.12, 184.55-185.20*
Daily Cattle and Beef Summary
Cutout values were mixed on Monday afternoon with choice cuts 1.26 higher to 323.50 and select cuts -2.90 lower to 292.18. The 5-area average price for live steers was reported at 190.05, steady with the end of last week. Monday’s slaughter was reported at 121 k head, 1k more than the same day last week but 3k less than the same day last year.
Volatility Update
The CME Live Cattle CVOL continues to linger near the lowest levels of the year, which we continue to look at as an opportunity to protect downside risk, either as a trader or hedger. If you’d like to discuss specific trading or hedging strategies, please reach out to the trade desk.

Lean Hogs
December lean hogs were choppy in the last two days of the week, marking new contract highs on Thursday then reversing lower and eventually recovering some midday on Friday. Support was tested and held Friday keeping that pocket intact for today’s trade, 77.90-78.25.
Resistance: 82.50*
Pivot: 79.60
Support: 77.90-78.25, 75.25-76.00
Volatility Update
The CME CVOL index for lean hogs continued to drift lower. With low volatility and Funds near record net long, puts seem like a good risk/reward trade here. Or potentially futures with options as a hedge. Feel free to contact our trade desk for a specific strategy suitable for you.

Stay ahead of the herd!
Subscribe to our daily Livestock Roundup for exclusive insights into Feeder Cattle, Live Cattle, and Lean Hogs. Get access to our proprietary trading levels and actionable market biases delivered straight to your inbox—every day.
Sign Up for Free Futures Market Research – Blue Line Futures