Can Cattle Avoid the Death Cross?

Tuesday’s Slaughter is estimated at 126,000. Unchanged from last week and 5,000 more than the same week last year.

Tuesday’s Cutout Values
Choice: 267.14, Down 1.54 from the previous day.
Select: 243.31, Down 1.93 from the previous day.
Choice/Select Spread: 23.44

5 Area Average Cattle Price
Live Steer: 137.00
Live Heifer: 147.20
Dressed Steer: N/A
Dressed Heifer: N/A



Live Cattle
Technicals (August): August live cattle were lower on the session, closing at the lowest price since May 31st. Yesterday’s close was right in our first support pocket, 132.45-132.775. IF the Bulls fail to defend this pocket on a closing basis, we cannot rule out a further breakdown and retest of the May 31st low, 129.975. Though we remain optimistic, yesterday’s down day is just another notch on the belt for a market that hasn’t been able to get anything going for some time now. Th

Resistance: 134.85-135.25 ***, 135.975-136.60**, 138.75**, 140.275**
Support: 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.