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February live cattle futures rose $1.60 in the week to $137.70, the highest in over two months, following higher cash trade and the highest dressed prices in four years. January feeder cattle closed at $160.92 with a bullish reversal forming.
Analyst commentary describes technical breakouts above resistance near $130 for live cattle.
Stronger cash and dressed prices and packer buying interest support futures and feeder values, which raises the cost of cattle for feed buyers.
dtnpf.comTodd HultmanNov 22, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Weekly gain and technical breakout above $130 resistance with highest dressed prices in four years fueled momentum buying.
