# Cattle futures post new highs, retreat in profit-taking setback

> CME live cattle futures rose to multi-year highs on Monday but closed lower as profit-taking and technical selling pulled prices back. Concerns about a new coronavirus variant briefly weighed on demand expectations.

- Date: 2021-11-29 · published 2021-11-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/12508-cattle-futures-post-new-highs-retreat-in-profit-taking-setback
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Strong packer margins and elevated cash prices still support the market, but the reversal signals that cattle futures may be overbought. Feeder demand for feed could soften if the correction deepens.

## Read by commodity

- LCATTLE: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/cattle-futures-post-new-highs-retreat-profit-taking-setback-2021-11-29/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.