Cattle Futures are on the MOOOve
Cattle
Daily Cutout Values
Choice: 263.23, Down 1.50 from the previous day.
Select: 237.08 Down .62 from the previous day.
Choice/Select Spread: 26.15
5 Area Average Cattle Price
Live Steer: 146.00
Live Heifer: 139.15
Dressed Steer: 231.87
Dressed Heifer: N/A
Daily Slaughter is estimated at 126,000. 2,000 more than last week and 8,000 more than the same week last year.
Weekly Export Sales
Beef: Net sales of 14,600 MT for 2022 were up 22 percent from the previous week, but down 17 percent from the prior 4-week average.
Technical Snapshot
Live Cattle
October live cattle recovered all of the losses from the previous session and then some, achieving their highest daily close since the month of May. If the Bulls are able to defend support and mark higher lows, then the April gap is still in-play, 145.10-145.975.
Resistance: 145.10-145.975****, 147.35-147.50**
Pivot: 142.75-143.75
Support: 141.425-141.90***, 138.025-138.35****
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Daily Cutout Values
Choice: 263.23, Down 1.50 from the previous day.
Select: 237.08 Down .62 from the previous day.
Choice/Select Spread: 26.15
5 Area Average Cattle Price
Live Steer: 146.00
Live Heifer: 139.15
Dressed Steer: 231.87
Dressed Heifer: N/A
Daily Slaughter is estimated at 126,000. 2,000 more than last week and 8,000 more than the same week last year.
Weekly Export Sales
Beef: Net sales of 14,600 MT for 2022 were up 22 percent from the previous week, but down 17 percent from the prior 4-week average.
Technical Snapshot
Live Cattle
October live cattle recovered all of the losses from the previous session and then some, achieving their highest daily close since the month of May. If the Bulls are able to defend support and mark higher lows, then the April gap is still in-play, 145.10-145.975.
Resistance: 145.10-145.975****, 147.35-147.50**
Pivot: 142.75-143.75
Support: 141.425-141.90***, 138.025-138.35****
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Disclaimer
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