CATTLE Analysis: Falling grain supplies bullish for LCATTLE

October 2, 2020

By IFCMarkets.com

Falling grain supplies bullish for LCATTLE

US Department of Agriculture quarterly report of September 30 showed domestic supplies of soybean, corn and wheat fell in the three months ending in September 1 more than expected. As a result of the report prices of futures on soybeans, corn and wheat rose more than 3%. Feed grain prices are a primary input in producing animal protein. Lower feed grain supplies and higher feed prices are bullish for LCATTLE.

Indicator VALUE Signal
RSI Neutral
MACD Buy
Donchian Channel Neutral
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

 

Summary of technical analysis

Order Buy
Buy stop Above 113.33
Stop loss Below 109.08

Market Analysis provided by IFCMarkets.com

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