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Barchart
Barchart
Jim Wyckoff

There’s a Trainwreck Happening in Cattle Prices. Here’s What You Need to Watch This Week.

USDA CME

August live cattle (LEQ26) futures on Friday fell $2.65 to $224.425, hit a four-month low, and for the week were down $10.775. August feeder cattle (GFQ26) futures lost $0.65 to $345.95, closed at a five-week low close, and for the week were down $8.65.

The cattle futures markets saw still more technical selling on Friday as the bleeding continued. The technically bearish weekly low closes on a Friday again last week set the stage for follow-through chart-based selling early this week.

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