Better than forecast sales bullish for LCATTLE
US cattle sales were better than expected in August. Will the LCATTLE continue gaining?
USDA Cattle on Feed Report for September was supportive for beef demand. According to the report released last Friday, sales of fed cattle during August were 1.5% below 2018, totaling 1.953 million head, when a decrease of 1.7% was expected taking into account the record 2018 result. And the live-to-cutout beef spread, which gives the revenue from wholesale beef and by-product sales less the cost of a live animal and determines meat packers’ gross margins, has risen in August compared to spreads of the same period a year ago. Better cattle seals are bullish for live cattle price.
On the 4-hour timeframe the LCATTLE: H4 has risen above the 200-day moving average MA(200) and resistance line.
Technical Analysis Summary
Order Buy
Buy stop Above 107.84
Stop loss Below 103.86
US cattle sales were better than expected in August. Will the LCATTLE continue gaining?
USDA Cattle on Feed Report for September was supportive for beef demand. According to the report released last Friday, sales of fed cattle during August were 1.5% below 2018, totaling 1.953 million head, when a decrease of 1.7% was expected taking into account the record 2018 result. And the live-to-cutout beef spread, which gives the revenue from wholesale beef and by-product sales less the cost of a live animal and determines meat packers’ gross margins, has risen in August compared to spreads of the same period a year ago. Better cattle seals are bullish for live cattle price.

On the 4-hour timeframe the LCATTLE: H4 has risen above the 200-day moving average MA(200) and resistance line.
- The Parabolic indicator gives a buy signal.
- The Donchian channel indicates uptrend: it is narrowing up.
- The MACD indicator gives a bullish signal: it is above the signal line and the gap is widening.
- The RSI oscillator is near the overbought zone but has not crossed into it.
Technical Analysis Summary
Order Buy
Buy stop Above 107.84
Stop loss Below 103.86