Cattle Futures Retreat in Wednesday’s Trade

Feeder Cattle (March)

March feeder cattle were in a casual $5 range yesterday.  The wild thing about it is that it didn’t even feel that panicky.  Our pivot pocket was tested yesterday but held, keeping it intact for today’s trade from 273.67-274.65.  A break and close below Tuesday’s low of 205.725 could spark additional long liquidation.  End of the month trade could also impact prices into the end of the week. 

• Resistance: 277.25**, 279.20**
• Pivot: 273.675-274.65
• Support: 270.05-271.00***, 266.75-267.75***

Seasonal Tendency Update

(updated 1.27.25)

Below is a look at historical price averages for March futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).   

Commitment of Traders Report 

Friday’s Commitment of Traders report showed Funds were net buyers of about 2.500 contracts, expanding their net long position to another new record, 28,749.  The 3-year chart of fund positioning below speaks for itself.  

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