A Seasonally Weak Time Of Year

Live Cattle (October) October live cattle were lower on the day but were able to defend the Friday low and our 3-star support pocket, 127.00-127.075. If that pocket gives way, we could see it trigger additional long liquidation towards the 100-day moving average, coming in at 125.00 this morning. There is a bearish seasonal around the corn, something that we talked about in last week’s reports. October live cattle have been lower for 13 out of the last 15 years from August 11th to August 26th. Coupled with prices at the top end of the technical range, we like leaning on the short side for a short-term trade. In our opinion, a pullback from these levels would set the December contract up for a good longer term buying opportunity...........Click this link to read the FULL report and receive our daily commentary