Live Cattle Shrug Off Outside Market Weakness
Thursday's Slaughter is estimated at 126,000. Unchanged from last week, but 5,000 more than the same week last year.
Thursday's Cutout Values
Choice: 267.16, Down 1.06 from the previous day.
Select 245.38, Down .30 from the previous day.
Choice/Select Spread: 21.78
5 Area Average Cattle Price
Live Steer: 144.10
Live Heifer: 143.22
Dressed Steer: 229.47
Dressed Heifer: 229.78
Outside Markets as of 6:15 AM
Dow Jones +195 points, Up .65%
S&P 500 +33 points, Up .89%
U.S. Dollar +.665, Up .63%
Live Cattle
Technicals (August): August live cattle were down on the session, but they were resilient in brushing off the carnage that was taking place in the equity markets. Most of our bias this week has been, cattle will go will equities go. The fact cattle were able to hold ground indicates to us that there is good underlying strength in the market as high temperatures and a stout cash market have kept a floor in the market this week.
Resistance: 137.90-137.95**, 138.75**, 140.275**
Pivot: 136.60
Support: 134.85-135.35***, 132.45-132.775**, 129.975-130.725****
Futures trading involves substantial risk of loss and may not be suitable for all investors. 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.
Thursday's Cutout Values
Choice: 267.16, Down 1.06 from the previous day.
Select 245.38, Down .30 from the previous day.
Choice/Select Spread: 21.78
5 Area Average Cattle Price
Live Steer: 144.10
Live Heifer: 143.22
Dressed Steer: 229.47
Dressed Heifer: 229.78
Outside Markets as of 6:15 AM
Dow Jones +195 points, Up .65%
S&P 500 +33 points, Up .89%
U.S. Dollar +.665, Up .63%
Live Cattle
Technicals (August): August live cattle were down on the session, but they were resilient in brushing off the carnage that was taking place in the equity markets. Most of our bias this week has been, cattle will go will equities go. The fact cattle were able to hold ground indicates to us that there is good underlying strength in the market as high temperatures and a stout cash market have kept a floor in the market this week.
Resistance: 137.90-137.95**, 138.75**, 140.275**
Pivot: 136.60
Support: 134.85-135.35***, 132.45-132.775**, 129.975-130.725****
Futures trading involves substantial risk of loss and may not be suitable for all investors. 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.