October Live Cattle futures jump after new 2026 lows
October Live Cattle futures settled sharply higher, rebounding from new 2026 lows. RSI recovered from 25% to 32% out of oversold. Cash cattle prices fell $4 to $7 on the week.
October Live Cattle futures settled sharply higher on Thursday, recovering from new 2026 lows set during Wednesday's session.
The Relative Strength Index moved to 32%, rising out of oversold territory after dipping to 25% earlier in the week.
While technical indicators point to a potential correction within the downward-trending channel, market participants continue to evaluate whether the move signals a lasting bottom.
In the cash market, cattle prices fell $4 to $7 lower on the week.
The decline aligns with seasonal trends as meat packers complete purchases ahead of the Labor Day holiday weekend, which typically marks the conclusion of peak grilling season and a subsequent slowdown in domestic demand.
Meanwhile, weekly export sales dropped to 9,200 metric tons, representing a 1% weekly decline and a 38% decrease from the four-week average.
Learn more about trading futures and options at CME Group: #LiveCattle #Livestock #Commodities