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February live cattle closed up $2.27 to $185.22 in the week ending November 3, recovering from the bearish October on-feed report. Prices met resistance near $188, and the Federal Reserve's decision to hold rates led to a weaker US dollar.
A weaker dollar supports US ag prices, and tight herd numbers keep the fundamental cattle outlook bullish. Traders are still watching the technical resistance near $188.
dtnpf.comTodd HultmanNov 6, 2023Not 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.
