Livestock Roundup

Posted: June 25, 2021, 3:40 p.m.

Live Cattle (August)

August live cattle traded down near technical support yesterday and was able to defend it, keeping it intact as we head into the weekend, that comes in from 120.60-120.95. Cattle on Feed will be out after the close. The average estimate for On Feed is 100.6%, Placed 95%, and Marketed 123.4%. We remain optimistic on live cattle, especially the deferred contracts out to December.

Resistance: 121.575-121.95***, 124.45**

Support: 120.60-120.95***, 118.925-119.30****

Live Cattle (August)

August live cattle traded down near technical support yesterday and was able to defend it, keeping it intact as we head into the weekend, that comes in from 120.60-120.95. Cattle on Feed will be out after the close. The average estimate for On Feed is 100.6%, Placed 95%, and Marketed 123.4%. We remain optimistic on live cattle, especially the deferred contracts out to December.

Resistance: 121.575-121.95***, 124.45**

Support: 120.60-120.95***, 118.925-119.30****

Lean Hogs (August)

August lean hogs were sharply lower early yesterday but managed to close over 2.00 off the lows. The Bearish seasonal we had talked about over the last two weeks will go in the books as a winner. That is if you had sold August lean hogs on June 19th and bought them back on June 26th, it was profitable for 15 of the last 15 years. Yesterday's quarterly hogs and pigs report showed All Hogs: 98% Kept for Breeding: 98% Kept for Marketing: 98%

Resistance: 102.25**, 106.50-107.2***, 110.425-111.70****

Pivot: 98.325-99.70

Support: 95.225-96.025**

Feeder Cattle Lean Hogs Live Cattle

Like this post? Share it below:


Back to Insights