Buy Or Sell?

Live Cattle (October) October live cattle caught a nice bid yesterday, trading up near first resistance, 128.90-129.25. Though longer term optimistic, more so on the deferred, we like selling October live cattle against technical resistance ahead of the bearish seasonal. October live cattle have been lower for 13 out of the last 15 years from August 11th to August 26th. First support remains intact, 127.00-127.075. A break and close below this pocket could accelerate the selling pressure and take us closer to the 100-day moving average which comes in at the low end of 125...........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support: Feeder Cattle (September) September feeder cattle traded on both sides of unchanged yesterday but finished the day on higher ground. Friday’s low will continue to be first support this week, that comes in at 160.825. If that gives way, we could see another leg lower towards the July 22nd gap, 159.225-159.70. Though the correlation isn’t 1:1, grain prices will continue to have heavy