Oliver Sloup brings you another episode of Markets on the Move to break down the day’s action. Grain markets saw follow-through selling pressure early in today's trade, but caught a gust of wind midway through the session, thanks in part to a social media post from President Trump.

Live Cattle (December)

December live cattle futures poked their head out above the 20-day moving average yesterday but retreated to settle right back into the zone, between the 20 and 50 day moving averages. The 20-day is converging with the 50-day and is just a few days from crossing below. Though far from a “silver bullet” many technicians would view that as a bearish development, but it’s not like it happened overnight. It’s more like a slow moving train wreck.

Resistance: 240.97-241.35***, 242.82-243.57***, 245**
Pivot: 235.525-237.05
Support: 231.50-231.95***, 228.75***, 222.65-223.05****

Daily Cattle and Beef Summary

Cutout values were softer yesterday with choice cuts 2.56 lower to 368.47 and select cuts .36 lower to 346.89. Daily slaughter was reported at 115k head. The CME Feeder Cattle Index is at 364.71 with the NBW Real Time Index at 359.19 this morning.

Seasonal Tendency Update
(updated 9.22.25)

Below is a look at historical price averages for December 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
Last Friday’s Commitment of Traders report showed Funds were net long 127,747 futures and options contracts. As you can see from the chart below, Funds have been pretty flat for a while.

Charts can be found here: A Mixed Livestock Trade on Wednesday - Blue Line Futures

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