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Cattle Futures Technical Analysis - Cattle Futures Trading: 2021-07-27
Live Cattle Technical Analysis Summary
Above 128
Buy Stop
Below 121
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Buy |
Live Cattle Chart Analysis
Live Cattle Technical Analysis
On the daily timeframe, LCATTLE: D1 went up from the neutral channel. A number of technical analysis indicators have generated signals for further growth. We do not rule out a bullish movement if LCATTLE: D1 rises above its last high: 128. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal, the last 4 lower fractals and the lower Bollinger line: 121. 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 (121) without activating the order (128), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Commodities - Live Cattle
The United States Department of Agriculture (USDA) reported a decline in the number of cattle (cattle) in the United States. Will the growth of LCATTLE quotes continue?
According to USDA, the number of cattle in the American feedlots (Cattle and calves on feed) as of July 1, 2021 was 11.3 million, a 1.3% decrease compared to the number of livestock on July 1, 2020. In June of this year, 1.67 million head of cattle (Placements in feedlots) were placed on feedlots, which is 7% less than in June 2020. The total number of cattle in the United States on July 1, 2021 decreased to 101 million heads, compared with 102 million last year on the same date. A number of US states are now experiencing drought, which could have a negative impact on the cattle population. Another positive factor for Live cattle futures quotes may be a noticeable reduction in frozen beef stocks. According to the USDA, as of June 30, 2021, they amounted to 398.7 million pounds. This is 3.7% less than at the end of May this year and almost 7% less compared to 2020 on the same date.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
