Livestock Markets Surge Higher in Thursday’s Trade. Can the Rally Continue into the Weekend?
Feeder Cattle (March)
March feeder cattle futures climbed to new highs yet again in yesterday’s abbreviated trading session. With a high of 269.00 the next psychological line in the sand comes in at 270. As mentioned above, The CME feeder Cattle Index is up to 275.00 with the NBW Real-Time Index showing 277.41 as of this morning.
Resistance: 270.00*
Pivot: 267.50-267.75
Support: 263.00-263.27**, 260.075-260.70****
Seasonal Tendency Update
(updated 1.7.25)
Below is a look at historical price averages for March 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 1.7.25)
Monday’s Commitment of Traders report showed Funds were net buyers of 1,614 contracts between December 24th and December 31st, expanding their net long position to a record 21,929.
Lean Hogs (February)
Yesterday we talked about relief rallies being expected and boy did we get one yesterday, taking prices back to resistance from 82.05-82.27. If the Bulls can chew through this pocket a move back to 83.97-84.30 would not be out of the question. If you had covered short positions near our 4-star support pocket, this may be a spot to consider putting them back on (if it gets there).
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