Live Cattle (June)

June live cattle futures made new contract highs again yesterday but finished the day closer to unchanged. The relative strength index has climbed to 69.84, a hair away from what is considered overbought territory (70+). We have seen that reach as high as 76.66 in January and 75.16 in March. We outlined a few psychological barriers on our radar recently, 215 and 218. On the flip side, 210-211 will need to be defended to avoid a round of profit taking. We will also be watching the outside markets this week. Today’s Fed meeting will be watched closely to see if markets respond with a risk-on or risk-off trade.

Resistance: 215*, 218*
Pivot: 210.00-211.00
Support: 207.72-208.25***, 203.25-204.20**

Daily Cattle and Beef Summary

Cutout values were firm again on Tuesday afternoon with choice cuts 1.10 higher to 344.67 and select cuts 4.90 higher to 332.97. Slaughter on Tuesday was reported at 121k head. The 5-area average price for live steers was reported at 218.38.

The CME feeder Cattle Index is at 293.78 with the NBW Real-Time Index showing 297.02 as of this morning.

Seasonal Tendency Update
(updated 5.5.25)

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 13.5k futures/options contracts, expanding their net long position to 128,840 futures and options contracts.

Check out the Charts to this article Here: https://bluelinefutures.com/2025/05/07/cattle-futures-mark-new-contract-highs-again/

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