Title: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise
Type : Bullish rise
Resistance : 148.125
Pivot: 144.475
Support : 141.150
Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the...
Title: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise
Type : Bullish rise
Resistance : 148.125
Pivot: 144.475
Support : 141.150
Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the...
Title: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise
Type : Bullish rise
Resistance : 148.125
Pivot: 144.475
Support : 141.150
Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the...
Title: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise
Type : Bullish rise
Resistance : 148.125
Pivot: 144.475
Support : 141.150
Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the...
Title: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise
Type : Bullish rise
Resistance : 148.125
Pivot: 144.475
Support : 141.150
Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the...
Title: Live Cattle Futures (LE1!), H4 Potential for Bullish Rise
Type : Bullish rise
Resistance : 148.125
Pivot: 144.475
Support : 141.150
Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the...
Where are the meat or commodity prices heading?
Meat prices have been rising at a rate of about 3% per annual over the last 40 years.
Meat is what I classified as an edible commodity, so is corn, wheat and rice. And as these commodities start picking up in prices, they are the one that will give the central banks a huge headache and to consider to hike its...
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Cattle Summary
Daily Cutout Values
Choice: 257.26, Down .75 from the previous day.
Select: 234.73, Down 1.31 from the previous day.
Choice/Select Spread: 22.53
5 Area Average Cattle Price
Live Steer: 142.17
Live Heifer: 141.54
Dressed Steer: 226.63
Dressed Heifer: 227.19
Daily Slaughter
Estimated at 127,000. 4,000 more...
Cattle Summary
Daily Cutout Values
Choice: 258.34, Down 1.45 from the previous day.
Select: 237.74, Down 1.94 from the previous day.
Choice/Select Spread: 20.60
5 Area Average Cattle Price
Live Steer: 144.85
Live Heifer:145.00
Dressed Steer: 229.85
Dressed Heifer: 229.80
Daily Slaughter
Estimated at 125,000 head, 1,000 more than last week and 6,000more than the...
Hogs Summary
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 96.00-112.00
Weighted Average: 104.81
Change from Prior Day: -2.02
Head Count:8,165
CME Lean Hog Index
8/29/22: 109.36
8/26/22: 111.26
Daily Hog Slaughter
475,000. Down 5,000 from last week but unchanged from the same day last year.
Technical Snapshot
Lean Hogs
October...
Cattle Summary
Daily Cutout Values
Choice: 259.79, Down 3.25 from the previous day.
Select: 239.68, Down 3.07 from the previous day.
Choice/Select Spread: 20.11
5 Area Average Cattle Price
Live Steer: 144.00
Live Heifer: N/A
Dressed Steer: N/A
Dressed Heifer: N/A
Daily Slaughter
Estimated at 126,000. Unchanged from last week and 6,000 more than the same week...
Hogs Summary
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 100.00-120.00
Weighted Average: 106.83
Change from Prior Day: -2.52
Head Count: 7,286
Daily Hog Slaughter
4800,000. Unchanged from last week and 3,000 less than the same week last year.
Technical Snapshot
Lean Hogs
Lean hogs have had a solid performance over the last two...
Hogs Summary
Daily Direct Hogs Plant Delivered
Carcass Base Price
Range: 114.50-126.00
Weighted Average: 115.61
Change from Prior Day: -8.08
Head Count: 3,203
Daily Hog Slaughter
428,000. Down 30,000 from last week and 47,000 from last year.
Technical Snapshot
Lean Hogs
October lean hogs opened lower on concerns of slowing Chinese growth, but managed to claw...
Cattle Summary
Daily Cutout Values
Choice: 264.46, Up 1.09 from the previous day.
Select: 239.72, Up .13 from the previous day.
Choice/Select Spread: 24.74
5 Area Average Cattle Price
Live Steer: 144.39
Live Heifer: 143.70
Dressed Steer: 229.93
Dressed Heifer: 229.86
Daily Slaughter
Estimated at 124,000. 5,000 more than last week and 6,000 more than the same...
Daily Cutout Values
Choice: 263.37, UP .27 from the previous day.
Select: 239.59 Up 2.13 from the previous day.
Choice/Select Spread: 23.78
5 Area Average Cattle Price
Live Steer: 144.3
Live Heifer: 143.69
Dressed Steer: 229.95
Dressed Heifer: 229.88
Daily Slaughter
Estimated at 118,000. 3,000 more than last week and 2,000 more than the same week last...
Lean Hogs
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 114.00-136.00
Weighted Average: 123.69
Change from Prior Day: 2.32
Head Count: 6,089
Daily Hog Slaughter
440,000. Down 12,000 from last week and 24,000 from last year.
Commitments of Traders Update
Friday’s Commitments of Traders report showed that Managed Money were net...
The commodities market is a close-knit one, with the price hike in one commodity often affecting another. Such correlation is evident in agricultural products such as soybean meals, corn, and lean hogs.
Lean hog prices are highly correlated with Soybean Meal and Corn as young feeder pigs are fed a diet of roughly 70% corn and 30% soybean meal. As such when corn...
