NEWS
Darin Newsom DTN Senior Analyst
Sun Mar 29, 2015 11:34 AM CDT

Weekly Analysis: Livestock Markets

Live Cattle: The June contract closed $2.500 higher at $152.975 last week. The secondary (intermediate-term) trend remains up with next resistance AT 154.825, the 67% retracement level of the previous secondary downtrend from $162.925 through the low of $138.60. Support continues to come from strong commercial buying, as indicated by the April to June futures spread.

Feeder Cattle: The May contract closed $2.725 higher at $218.125 last week. The secondary (intermediate-term) trend remains up. The contract has moved above resistance near $215.10, a price that marks the 50% retracement level of the previous downtrend from $236.325 ...

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