Cattle futures chart reviewing the cattle futures chart

Reviewing the cattle futures chart, live cattle prices have gained 1.2% week-over-week. This trend is supported by lower cow slaughter numbers and high-quality beef premiums attracting food service buyers. The only route for a risk position in the beef market is through the CME’s live and feeder cattle futures market. Price action: October live cattle rose 97 1/2 cents to $231.15, nearer the daily high and hit a three-week low early on. September feeder cattle gained $1.50 to $353.20, near mid-range and hit a three-week low early on. The cattle futures chart currently reflects stable cash market alignment, curbing volatility for near-month deliveries. Retail demand resilience is aiding price base formation above previous technical floors.