If Live Cattles or Feeders, the exorbitance in the markets of the bovine meat has carried to a sensitive price decrease at CME. Also in the supermarkets there was a change in demand; consumers buy now cheaper cuts of meats, it’s simply too expensive! Only the foreign demand remained constant
From the technical side, the live cattles, after the exorbitance that has carried to a record in October 14, has probably finished the phase of correction and has reached (and not exceeded) the line of multi-year-support at 148 cents/lb. This fact confirms the multi-year-uptrend and, if maintained, could attract new speculation on the market.
More Commodity Analysis: www.swisscommodity.com
From the technical side, the live cattles, after the exorbitance that has carried to a record in October 14, has probably finished the phase of correction and has reached (and not exceeded) the line of multi-year-support at 148 cents/lb. This fact confirms the multi-year-uptrend and, if maintained, could attract new speculation on the market.
More Commodity Analysis: www.swisscommodity.com
