Live Cattle (February)

February live cattle futures pulled back to start the week, but prices were able to defend our pivot pocket from 196.20-197.00. A failure to defend this pocket could trigger profit taking from funds with the next downside targets coming in near 194.5 and 192.5.

Resistance: 199.57-200.00***
Pivot: 196.20-197.00
Support: 194.40-194.85***, 192.00-192.70***

Daily Cattle and Beef Summary

Cutout values were higher to start the week with choice cuts .51 higher to 333.35 and select cuts 3.43 higher to 317.57. Monday’s slaughter was reported at 117k head, 8k more than the previous week and 9k more than the same day last year. The 5-area average price for live steers came in at 202.58.

The CME feeder Cattle Index is up to 277.30 with the NBW Real-Time Index showing 278.63 as of this morning.

Seasonal Tendency Update
(updated 1.13.25)

Below is a look at historical price averages for February 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
(Updated on 1.14.25, new updates will be out after today’s close)

Monday’s Commitment of Traders report showed Funds were net buyers of about 14k contracts, expanding their net long position to 143,456. Within a stone’s throw of the record 152,634. Quite possibly we are there since this recent report is only through last Tuesday.

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