Grain markets were mixed today with soybeans posting an impressive gain. Cattle markets were weaker but found their footing thanks to rumors of a sharply higher cash trade in the making.

Live Cattle (June)

June live cattle futures broke out above resistance yesterday which accelerated the move higher, taking prices to a new closing contract high and within arm’s reach of the intraday all time high at 207.30. The relative strength index crossed into overbought territory with a reading of 74.54 at the close. Rumors of a higher cash trade into the weekend coupled with technical strength were the two catalysts that fed on each other on Thursday. Previous resistance from 203.25-204.20 will now act as support. A break and close below here could spark some profit taking from Funds. End of month and end of quarter could continue to play a role in price action over the next two sessions.

Resistance: 206.92-207.30**
Pivot: 203.25-204.20
Support: 201.37-201.85***, 199.60-199.975**

Daily Cattle and Beef Summary

Cutout values were mixed on Thursday afternoon with choice cuts 2.58 lower to 335.72 and select cuts 2.91 higher to 319.44. Thursday’s slaughter was reported at 119k head, in the ballpark of the same day last week and last year. The 5-area average price for live steers was reported at 211.83

The CME feeder Cattle Index is at 287.67 with the NBW Real-Time Index showing 289.26as of this morning.

Seasonal Tendency Update
(updated 3.24.25)

Below is a look at historical price averages for June futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).

Check out the full article with charts here!: https://bluelinefutures.com/2025/03/28/new-highs-for-live-cattle/

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