Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Wed Jul 1, 2015 04:44 AM CDT

Live Cattle: The August contract closed at $148.075, down $3.20 on the monthly chart. The major (long-term) trend remains down with support between $141.85 and $137.30. These prices mark the 33% and 38.2% retracement levels of previous uptrend from $79.975 (March 2009 low) through $172.75 (November 2014 high). The 50% retracement level is down near $126.35.

Feeder Cattle: The August contract closed at $214.725, down $8.225 on the monthly chart. The major (long-term) trend remains down. Initial support is near $192.375, a price that marks the 33% retracement level of the previous uptrend from $85.50 (December 2008 low) through $245.75 ...

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