Live Cattle Futures—Cattle futures in the August contract settled higher by 100 points at 97.30 or 1.05% still stuck in a tight 8-week consolidation looking to break out in next week’s trade in my opinion.
Cattle prices are trading right at their 20 and 100 day moving average as the trend is mixed as tomorrow will be the last trading day for the week as the 4th of July holiday is upon us as that should put some volatility in tomorrow’s trade.
At the current time I do not have any livestock recommendations, however the commodity sectors are starting to show signs of life as I do think the break out will be significant on either side so keep eye on this market as we could possibly be involved tomorrow.
TREND:MIXED
CHART STRUCTURE: EXCELLENT
VOLATILITY: AVERAGE
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