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Barchart
Barchart
Jim Wyckoff

Cattle Hit a Speedbump Last Week. Is This the End of the Bull Run?

USDA United States

The live (LEQ25) and feeder cattle (GFQ25) futures markets last week saw profit-taking from speculators and closed out the week with technically bearish weekly low closes on Friday. That suggests some follow-through, chart-based selling pressure early this week. The near-term technical postures for live and feeder cattle futures markets have started to slightly deteriorate. More importantly, the cash cattle (GFY00) (LEY00) and fresh beef markets are also showing mild signs of weakness.

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