Will Profit Taking in Cattle Continue? | Livestock Rundown | 5/24/2023
Posted: May 24, 2023, 7:53 a.m.
Live Cattle |
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Seasonal Trend in Play
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Technicals (August - Q)
- August live cattle futures continued to pullback during yesterday's trade, putting prices near the middle of our first support and resistance pockets, which remain intact for today's trade. As mentioned in in yesterday's livestock commentary for CME Group, a large Fund position coupled with a lack of new news may have sparked some long liquidation in the first two days of the week.
Resistance: 164.57-165.05**
Support: 160.80-161.55****, 159.175-159.75***
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Feeder Cattle |
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Seasonal Trend in Play:
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Lean Hogs |
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Seasonal Tend in Play
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