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Marketing Corner
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Are Cattle Set for New Contract Highs![]() Live Cattle (December)December live cattle continued to climb higher yesterday, after breakout out above the upper end of last week’s range and the 20-day moving average. That takes prices back near trendline resistance which comes in near 239.00. If the market can clear this hurdle, a run back at the contract highs from August 27th are back on the table. On the support side of things, levels and indicators remain intact. Resistance: 239.05***, 240.97-241.35***, 242.82-243.57***, 245** Daily Cattle and Beef Summary Cutout values were firm in yesterday afternoon’s report with choice cuts 2.63 higher to 365.97 and select cuts .91 higher to 348.88. Daily slaughter was reported at 116k head. The CME Feeder Cattle Index is at 364.24 with the NBW Real Time Index at 365.15 this morning. Seasonal Tendency Update Below is a look at historical price averages for December futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results). Commitment of Traders Update SEE THE CHARTS TO THIS ARTICLE HERE: Are Cattle Set for New Contract Highs - Blue Line Futures Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy here.
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