Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Mon Sep 29, 2014 06:22 AM CDT

Live Cattle: The December contract closed $3.40 higher last week. Despite last week's higher close, the possible 5-point top formation remains in place. However, the December contract closed at its weekly high of $162.10 indicating buying early this coming week could lead to a test of the recent high (point 5 high) of $163.875. Market volatility remains high (14.2%), a factor that could spark another round of noncommercial long-liquidation. Friday's CFTC report showed this group reducing their net-long holdings by 4,517 contracts from last week's report to 91,388 contracts.

Feeder Cattle: The November contract closed $5.275 higher last week. The ...

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