Live Cattle (June)
More of the same for live cattle yesterday, seemingly every reason in the world to rally but just couldn’t get much going. Futures markets are waving a big caution flag despite the cash trade moving sharply higher. We would expect to see some convergence in these in the near future, which one does the heavy lifting (futures or cash) continues to be the million-dollar question.

Resistance: 210.00-211.00**
Pivot: 207.72-208.25
Support: 203.25-204.20**, 199.60-199.975***, 195.65-196.07***

Daily Cattle and Beef Summary

Cutout values were very mixed on Thursday afternoon with choice cuts 2.14 lower to 343.17 and select cuts 2.26 higher to 324.28. Slaughter on Thursday was reported at 120k head. The 5-area average price for live steers was reported at 220.71.

The CME feeder Cattle Index is at 295.77 with the NBW Real-Time Index showing 296.03 as of this morning.

Seasonal Tendency Update
(updated 4.28.25)

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

Commitment of Traders Update
Friday’s Commitment of Traders report showed Funds were net buyers of roughly 12k futures/options contracts, expanding their net long position to 120,460 futures and options contracts.

Check out the charts Here: https://bluelinefutures.com/2025/05/02/cattle-futures-stall-despite-a-red-hot-cash-trade/ 

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