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Cattle Futures Technical Analysis - Cattle Futures Trading: 2020-05-21
Live Cattle Technical Analysis Summary
Above 100.42
Buy Stop
Below 93.66
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| Donchian Channel | Buy |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Buy |
Live Cattle Chart Analysis
Live Cattle Technical Analysis
On the daily timeframe #C-LCATTLE: D1 is rising toward the 200-day moving average MA(200), which is falling. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 100.42. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 93.66. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (100.42) without reaching the order (93.66) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis of Commodities - Live Cattle
WASDE forecast a lower US beef production for 2020. Will the LCATTLE continue rising?
The US Department of Agriculture World Agricultural Supply and Demand Estimate forecast for 2020 lower US total red meat and poultry production from last month as the sector adjusts to COVID-19 and economic uncertainty. Beef production is reduced as lower expected cattle slaughter more than offsets heavier carcass weights. Lower production is bullish for the live cattle price.
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