Live Cattle (Cash Index): The cash market remains in a major (long-term) uptrend as it hit a new high of $163.56 at the end of February. As a friend in the industry put it Tuesday, live cattle are in “pretty thin air” with the market’s reported all-time high from November 2014 at $173.36. Theoretical Positions: Traders would likely be long the market with a stop below the previous 4-month low of $147.81 (November 2022).

Feed Cattle (Cash Index): It’s a tough call on cash feeder cattle as the index continues to consolidate near its series of highs between 183.00 and $183.50. Despite monthly stochastics being sharply overbought, the path of least resistance still looks to be up. Theoretical Positions: Traders are likely still long the market. Sell stops would be placed below the previous 4-month low of $173.63.

Lean Hogs (Cash Index): The major trend looks to have turned up as the cash index completed a bullish 2-month reversal during February. This coincided with a bullish crossover by monthly stochastics below the oversold level of 20%. The initial upside target is $91.27. Theoretical Positions: Traders who were short from last August would buy back near the February close of $78.22. New long positions could also be established at the same price.