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Trilateral's technical analysis on October 21, 2020 says live cattle futures are following an Elliott wave decline. It identifies a target zone of 102.60 to 100.20 and suggests more new lows may follow.
This is technical commentary with no new fundamental cause, but it suggests continued downside pressure on cattle values that could affect feeder margins.
trilatinc.comMatthewOct 21, 2020Not 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.
