Source: Terry Roggensack, SUCCESSFUL FARMING, 8/24/22


The technical action was positive yesterday for live cattle, but the market does not seem to have the bullish demand factors to spark a resumption of the uptrend just yet. It remains technically overbought; the USDA report Friday was clearly bearish showing short-term supply above the range of estimates; and beef prices have fallen to their lowest level since May 20. Without a quick turn higher in beef prices, speculative long liquidation selling is a threat.

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