Livestock Markets Saw a Choppy Trade on Friday. More of the Same This Week?
Cattle made new highs but reversed to finish well off the highs. Lean hogs saw volatility as well. Here are a few things we are keeping an eye on for today’s trade.
Feeder Cattle (March)
March feeder cattle futures made new highs on Friday but reversed to finish the day lower. 263.00-263.27 is the significant inflection point to keep an eye on through today’s trade. If the Bulls can defend this, they will keep control of the technical landscape. A failure there and we could see a long liquidation event occur, which could happen regardless of the fundamentals.
Resistance: 267.50, 270.00*
Pivot: 263.00-263.27
Support: 260.075-260.70****, 256.80-257.00***, 254.00-254.225***
Seasonal Tendency Update
(updated 12.30.24)
Below is a look at historical price averages for January futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).

Commitment of Traders Report
(Updated on 12.31.24)
Monday’s Commitment of Traders report showed Funds were net sellers of 263 contracts between December 17th and December 24th, shrinking their net long position to 20,315.
Lean Hogs (February)
February lean hog futures made new lows for the move in Friday’s trade but were able to close off the lows. If the Bulls fail to find their footing through today’s trade, long liquidation could continue to weigh on prices with the next downside objective coming in from 78.90-79.20. This was .30 away from being tested in Friday’s trade. The Bulls will want to see consecutive closes back above 82.05-82.27 to neutralize some of the bearishness we’ve seen in the last week.
Resistance: 83.97-84.30***, 86.50-87.00****
Pivot: 82.05-82.27
Support: 80.75-81.20***, 78.90-79.20****
Seasonal Tendency Update
(updated 12.30.24)
Below is a look at historical price averages for February futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).

Commitment of Traders Report
(Updated on 12.31.24)
Monday’s Commitment of Traders report showed Funds were net sellers of 323 contracts between December 17th and December 24th, shrinking their net long position to 121,985.
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