Daily Live Cattle Fundamental and Technical Outlook (6.8.22)

8 Jun 2022

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: 271.42, Up 1.84 from the previous day.

Select: 249.56 Down 1.53 from the previous day.

Choice/Select Spread: 21.86

5 Area Average Cattle Price

Live Steer: 141.00

Live Heifer: N/A

Dressed Steer: 222.00

Dressed Heifer: N/A


Live Cattle
Technicals (August): August live cattle were able to defend our pivot pocket from 132.65-132.75 which heled prices recover some of Monday’s losses in yesterday’s session. Though encouraging, it is so far marked down as another failure against our resistance pocket from 134.40-135.10. If the Bulls can chew through this pocket with come conviction it could open the door for an extension towards the 100-day moving average, 136.65.

Resistance:134.40-135.10***, 136.65**, 137.125-137.60***

Pivot: 132.625-132.75

Support: 130.00-130.65***, 126.80-127.30****