October Live Cattle Futures Just Hit a Three-Week High. A Buying Opportunity May Be in Sight.

October Live Cattle Futures Just Hit a Three-Week High. A Buying Opportunity May Be in Sight.

Thu, August 6, 2026 at 5:05 PM GMT+3 2 min read

• LE=F +0.10%
• CL=F -0.27%

The daily chart for October live cattle futures (LEV26) shows that prices are now trending up and have just hit a three-week high. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is also in a bullish posture, as the blue MACD line is above the red trigger line and both lines are trending higher.

Fundamentally, recently falling crude oil (CBV26) prices and major U.S. stock indexes hitting record highs have boosted consumer confidence — likely making consumers more willing to pay up for more beef at the meat counter. From the supply side, the U.S. cattle herd remains near historic lows.

More News from Barchart

A move in October live cattle futures above chart resistance at this week's high of $230.325 would give the bulls more power, and it would also become a buying opportunity. The upside price objective would be $250.00, or above. Technical support, for which to place a protective sell stop just below, is located at $221.70.

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any traders and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%):

1. Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.

On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com