Source: USDA AMS Livestock, Poultry & Grain Market News. Resistance: 96.67-96.90***, 99.15-100.35****įutures trading involves a substantial risk of loss and may not be suitable for all investors. Feeder cattle steady to 5.00 lower this week compared to last week. This pocket represents the 200-day moving average and the original breakdown point from March. The Livestock Production Index, at 146.0, increased 0.6 percent from April, and 37 percent from May of last year. If the Bulls can keep the momentum going, the next and potentially final near-term objective would be 99.15-100.35. July lean hogs continued their rally yesterday, trading to multi-month highs, which seems crazy because it seems like not all that long ago that prices were heading to zero. National Weekly Feeder and Stocker Cattle Summary (pdf) (Fri) Regional and State. Supply included: 89 Feeder Cattle (51 Steers, 49 Heifers, 0 Bulls) 11 Slaughter Cattle (49 Steers, 9 Dairy.The 2,100 head of cattle listed on Thursday’s FCE had two sales with 130 TX steers sold at 180 and 36 KS cattle. USDA confirmed cash trade in NE and KS on Thursday from 180 to 184 and 280 to 292 in the beef. August feeders are still at a net 4.25 loss for the week. A break and close below the 50-day moving average could encourage additional long liquidation from the Funds who hold their largest net long position in about a decade. The live cattle futures market ended the day with nearby losses of 15 to 37 cents, but deferred contract gains of less than 10 cents. With grains sharply higher yet again this morning, it may keep a headwind in the market. August feeder cattle futures continued to pullback yesterday, testing and defending the 50-day moving average.
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