The number of cattle in the US feedlots increased
The USDA report notes that the number of cattle placed in feedlots during July 2020 increased by 11% compared to July 2019 and reached 1.89 million. At the same time, the total livestock, which on August 1, 2020, was in feedlots, increased by 1% compared to last year and amounted to 11.3 million heads. This is the highest amount since the USDA started publishing statistics in 1996. It can be assumed that the American beef supply has practically recovered after the quarantine due to the coronavirus. At the same time, according to the USDA, since the beginning of 2020, the cattle slaughter is 1.06 million less than last year as of the current date. In theory, this may indicate that demand has not fully recovered yet.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Sell | |
| MACD | Sell | |
| MA(200) | Neutral | |
| Fractals | Sell | |
| Parabolic SAR | Sell | |
| Bollinger Bands | Neutral |
| Order | Sell |
| Buy stop | Below 142 |
| Stop loss | Above 149 |
Market Analysis provided by IFCMarkets.com
Free Reports:
By JustMarkets On Thursday, the American market was gripped by panic amid a sharp spike…
By ForexTime RBA expected to HIKE interest rates BoC, Fed, BoJ, BoE, ECB, SNB and…
By Analytical Department RoboForex USD/JPY rose to 159.29 on Friday, marking one of the weakest…
By JustMarkets On Wednesday, US stock indices closed in the red amid the escalating conflict…
By Analytical Department RoboForex Gold prices fell below 5,150 USD per ounce on Thursday, marking…
By André O. Hudson, Rochester Institute of Technology Tensions in the Middle East often trigger…
This website uses cookies.