Rising placements bearish for FCATTLE
US cattle placements continued to rise in October. Will the FCATTLE decline?
Recent US feedlot data were bearish. Placements in feedlots during October were higher compared to same period a year ago: 2.477 million head in total, 10% above October 2018, according to the USDA Cattle on Feed Report for October released last Friday. Placements increase accelerated as the Cattle on Feed Report released for September had reported placements in feedlots were higher compared to same period a year ago: 1.884 million head in total, 9% above August 2018. And cattle on feed is now displaying the typical seasonal declines. Higher supply is bearish for FCATTLE.
On the daily timeframe the FCATTLE: D1 has closed above the 200-day moving average MA(200).
Technical Analysis Summary
US cattle placements continued to rise in October. Will the FCATTLE decline?
Recent US feedlot data were bearish. Placements in feedlots during October were higher compared to same period a year ago: 2.477 million head in total, 10% above October 2018, according to the USDA Cattle on Feed Report for October released last Friday. Placements increase accelerated as the Cattle on Feed Report released for September had reported placements in feedlots were higher compared to same period a year ago: 1.884 million head in total, 9% above August 2018. And cattle on feed is now displaying the typical seasonal declines. Higher supply is bearish for FCATTLE.
On the daily timeframe the FCATTLE: D1 has closed above the 200-day moving average MA(200).
- The Parabolic indicator gives a sell signal.
- The Donchian channel indicates downtrend: it is narrowing down.
- The MACD indicator gives a bullish signal: it is below the signal line and the gap is narrowing.
- The RSI oscillator is near the 50 level.
Technical Analysis Summary
Order | Sell |
Sell stop | Below 138.19 |
Stop loss | Above 145.65 |