October live cattle futures rebound to test multi-month channel resistance
October Live Cattle futures rebounded sharply, reversing Wednesday’s losses to probe the upper boundary of a multi-month downward channel. Lower corn and higher equity markets supported prices as traders watch seasonal demand into the Labor Day weekend.
October Live Cattle futures rebounded sharply, erasing Wednesday's losses to test the upper boundary of a multi-month downward channel.
Lower corn futures, which reduce feed costs, and higher equity markets provided structural support for cattle prices.
Traders are also monitoring seasonal demand trends ahead of the Labor Day holiday weekend.
In the cash market, weekly export sales reached 12,900 metric tons, marking a 41% increase from the previous week but remaining slightly below the four-week average.
Ted Seifried of Zaner Ag Hedge analyzes technical levels, input costs, and export demand in the cattle market.