Special Update for Live Cattle and Feeder Cattle

Live Cattle and Feeder Cattle had large ranges on Friday, with 3 of the markets having outside days at new contract highs and that will reset the retracements below. This is also the last update for April Feeder Cattle.

Live Cattle

From Thursday.

This will be the last update for April.

Nothing has stopped this rally so far and we will watch the major Gann squares above for resistance and the retracements back to the 3/4/25 low for the first sign of a trend change. The tightest support is 23.6% back to the 3/4/25 low at 203.88, this also a major Gann square, it will again be the key level for next week.

Use 203.88 as the swing point for the week.

Above it, there are only major Gann squares to look for resistance and then use as the swing point when closed above, the next two are 210.97 and 218.23.

Thursday it closed at a new high for the year and Friday's rally hit the 210.97 major Gann square and retreated $4.00. Making a new high and getting right back below the previous high (207.27) is usually not a good sign, however we will watch all the retracements below to see just how strong, or weak this market is. 

Use 210.97 as the swing point for the week.

Above it, there are only major Gann squares to look for resistance and then use as the swing point when closed above, the next two are 218.23 and 225.48.

Below it, with the new high retracements from the two key lows on 8/21/24 (38.2%) and 3/4/25 (61.8%) line up perfectly at 197.70 and this will be the short term target, there is also a major Gann square at 197.13 for added support. Any setback that can't get below 202.90 keeps the trend extremely positive and a new high can quickly follow, this 23.6% and 38.2% back to the previously mentioned lows.