DTN Closing Livestock Comment 12/05 16:07
Cattle Futures Shift Higher Tuesday
Early buyer support in all cattle futures gained momentum as the day
continued. Although live cattle gains were unable to keep pace with feeder
cattle gains, the upward moves Tuesday are helping create a little more
stability following recent aggressive selling.
After live cattle futures fell $3 per cwt over the last three trading
sessions, and feeder cattle tumbled $9 per cwt in the same period, buyer
support redeveloped Tuesday. For the second week in a row, Tuesday has been the
turnaround day in cattle futures. This is creating hope that additional price
gains may develop as the week continues, and potentially break out of the
weaker market cycle. It is going to take several days of consistent upward
support in order for traders to regain confidence that price support has been
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The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of futures results.