Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Fri Jul 3, 2015 07:58 PM CDT

Live Cattle: The August contract closed $2.700 higher at $151.225. Despite the higher weekly close the secondary (intermediate-term) trend of August live cattle remains down. The contract was able to rally off support near $148.125, the 38.2% retracement level of the previous uptrend, to test longer-term resistance near $152.25. Weekly stochastics are still bearish, indicating the contract could eventually work toward support at the 50% retracement level near $146.20.

Feeder Cattle: The August contract closed $0.200 higher at $217.45 last week. August feeder cattle remain in a secondary (intermediate-term) downtrend. Weekly stochastics are bearish indicating the contract should extend this ...

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