Daily Feeder Cattle Technical Update (6.12.22)

Feeder Cattle
Technicals (August): As with live cattle, feeder cattle were choppy, trading on both sides of unchanged only to finish the session near unchanged. There is a gap left from the Monday morning open, that comes in from 173.75-174.025. We would not be surprised to see this gap get filled, especially if the corn market cannot find its footing. Above that is the 100-day moving average at 176.45. On the support side of things, 170.25-170.725 is the pocket for the Bulls to defend. This represents trendline support from the May 23rd lows as well ass the 50 day moving average.

Resistance: 173.75-174.02***, 176.45-177.075***, 178.225**, 181.65-182.10****

Pivot: 171.40-171.925

Support: 170.30 -170.725****, 169.40**, 167.325**

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