June 9, 2025
Commodity Futures Weekly Newsletter- For the week of June 9th, 2025
Feeders set new all-time highs with short-term support remaining intact.
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A publication by the Research Team at Capital Trading Group: 800-238-2610
Livestock
Feeder Cattle Futures
Feeder Cattle set new all-time highs at 310.55.
Feeder Cattle Futures maintained a Bullish RSI reading above 50, at 70.65 and remained above support at 290 favoring a new all-time high above 303.475. Prices closed the week’s trading at 310, after setting a new all-time of 310.55 in this week's trading.
Short-term support at 290 remained intact
Prices met Trend channel Resistance for Wave 5 near 310 as forecast. Any new marginal new high beyond 310 needed to complete Wave 5 would aim for the 320 area, specifically 318.75, as the potential upper projection for a Wave 5 top to form, as mentioned last week. This is calculated by measuring the distance traveled in the widest part of the triangle, from 263.15 to 290. 36.85 points. When we add 36.85 to the triangle endpoint at 281.90, we get 318.75 as the projection. We can continue to list 290 as support, as any drop below that level would take prices back into the span of the previous 4th wave triangle, indicating Wave 5 had likely peaked.
Conclusion
With a Wave 5 still active, we are awaiting a top to form. Structural Support is nearby at the wave 4 triangle endpoint of 281.90. If price continues lower and we witness moves below 281.90, move to confidently Bearish expecting declines to break Trend Channel Support in Wave A of a larger A,B,C Corrective Wave after 5-waves up complete in an Impulsive Wave as per the Elliott Wave Theory model. A break below 50 in RSI, currently at 70.65 or drop in prices below 290, currently at 310, would be a good indication that Wave 5 was finished and Wave A lower to beneath 281.90 had begun.
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Thank you!
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