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FCATTLE Technical Analysis - FCATTLE Trading: 2021-10-08
Feeder Cattle Technical Analysis Summary
Above 160
Buy Stop
Below 151
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Feeder Cattle Chart Analysis
Feeder Cattle Technical Analysis
On the daily timeframe, FCATTLE: D1 has broken up the resistance line of the intermediate downtrend, which may turn out to be a correction. It maintains a long-term upward trend. A number of technical analysis indicators have formed signals for further growth. We do not rule out a bullish movement if FCATTLE: D1 rises above the upper Bollinger band and the last high: 160. This level can be used as an entry point. The initial risk limitation is possible below the last lower fractal, the Parabolic signal, the 200-day moving average line and the lower Bollinger line: 151. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit / loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (151) without activating the order (160), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Commodities - Feeder Cattle
China has increased purchases of American beef. Will the FCATTLE quotes continue to grow?
According to the United States Department of Agriculture (USDA), this year the total volume of obligations for the supply of beef to China reached 142.1 thousand tons. This is 123% more than last year's level. At the same time, US beef exports last week amounted to only 15.6 thousand tons, which is 37% less than last year's level for the same week. Moreover, China purchased only 6 thousand tons of this volume. The USDA reported that the slaughter of cattle (cattle) last week increased by only 2.2% - to 363 thousand heads. It is still difficult to say whether the relatively modest increase in cattle slaughter is a consequence of the appearance of a shortage of its livestock. As a reminder, USDA's monthly Livestock Slaughter for September is due out on October 21st. In August 2021, the slaughter of livestock amounted to 2.89 million heads, which is 3% more than in August last year. At the same time, cattle meat production increased by only 1% due to a slight decrease in the average live weight of American cows this year.
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