Futures Market Commentary

October 10, 2024

LIVE CATTLE 

December Live Cattle have seen impressive strength in the last month showing this market is healthy. Prices have held the recent highs but are in over-bought territory. A retrace back to the $182-184 area is expected, but dips will be buying opportunities. Fats have confirmed the uptrend. 

FEEDER CATTLE

Feeder Cattle have enjoyed a month of upside. November Feeder prices have been hanging around the $250 mark showing acceptance of these higher prices. However look for pullbacks in the short-term as prices have become a bit extended. Dips to the mid $240's will be buying opportunities as we expect the uptrend to continue. 

CORN

December Corn has broke out to new monthly highs confirming the uptrend. Over the last week we have seen prices retreat back to the breakout level. The $4.15 - $4.19 area should offer support as this market dips. Prepare for the Bulls to make another push higher in days to come, but a close back below $4.15 will be reason to get defensive. 

Feeder Cattle Prices

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