October live cattle (LEV26) futures last week gained $6.725 from the week prior and on Monday morning were showing follow-through buying strength from Friday’s solid gains, including hitting a four-week high. November feeder cattle (GFX26) futures gained $5.40 last week and were also posting gains Monday morning, notching a five-week high.
Technical buying has been featured recently, as the near-term chart postures for both live cattle and feeder cattle futures have become more bullish. Both markets are in fledgling price uptrends on the daily bar charts.
