Cattle Price Consolidation

Live Cattle:

• Prices: Live cattle prices have been consolidating recently, with resistance levels observed at 178.45-178.80 and 179.65-180.75. Support levels are at 172.90-173.425 and 169.00-170.00. The pivot point is around 175.80-176.20.
• Market Sentiment: While the market sentiment is somewhat cautious, it’s important to note that this period of consolidation could also present potential breakout opportunities for which traders are closely watching.
• Factors to Watch: Our comprehensive analysis indicates that critical factors influencing the live cattle market include demand for beef, feed costs, weather conditions, and overall economic conditions. Rest assured, we have considered all these factors in our report to provide you with the most accurate market insights.

Feeder Cattle:

• Prices: Feeder cattle prices have also been experiencing volatility, with resistance levels at 258.00-258.50 and 263.325-264.875. Support levels are at 248.30-250.075. The pivot point is around 254.025-255.00.
• Market Sentiment: The market sentiment for feeder cattle is also cautious as traders assess various factors’ impact on future demand and supply.
• Factors to Watch: Key factors affecting the feeder cattle market include feed availability and cost, which directly impact feedlot profitability and, in turn, the demand for feeder cattle. Additionally, feeder cattle demand from feedlots and overall market conditions, such as economic stability and consumer preferences, play a significant role in shaping the market.