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The live cattle market traded lower on fund selling ahead of expected heavy June supplies. The June contract dipped below the $105.55 support level but recovered above it by the close.
Fund selling pressures futures and can weigh on feeder and fed cattle values. Holding support keeps the near-term price floor intact for cattle buyers.
agupdate.comMay 1, 2018Not 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.
Fund selling ahead of expected heavy June supplies pushed live cattle lower and broke the June contract's support on the move date, a direct sentiment and supply driver.
Fund selling ahead of heavy expected June supplies pushed live cattle futures lower and tested support, directly reflecting the sell-off in the window.
Fund selling ahead of expected heavy June supplies pushed June live cattle below support, a sentiment and positioning driver of the drop.
Fund selling ahead of expected heavy June supplies pressured live cattle and pushed the contract through support, which fits the sharp drop.
