{"id":172711,"date":"2020-06-25T07:45:09","date_gmt":"2020-06-25T11:45:09","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=172711"},"modified":"2020-06-25T07:28:10","modified_gmt":"2020-06-25T11:28:10","slug":"cattle-analysis-lower-beef-supply-bullish-for-live-cattle-price","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/06\/cattle-analysis-lower-beef-supply-bullish-for-live-cattle-price\/","title":{"rendered":"CATTLE Analysis: Lower beef supply bullish for live cattle price"},"content":{"rendered":"
June 25, 2020<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/strong><\/p>\n

Lower beef supply bullish for live cattle price<\/strong><\/p>\n

US frozen beef supplies suffered a steep drop last month according to the US Department of Agriculture National Agricultural Statistics Service (NASS) monthly report released a couple of days ago. The total amount of beef in freezers was recorded at 415.221 million pounds, down 64.235 million, or 13.4%, from 479.456 million the previous month. Lower supply is bullish for the live cattle price. However, US cattle ranchers experience a massive backlog even as many slaughterhouses come back online with meat production recovering after a drop because of shutdowns of slaughterhouses and processing plants due to coronavirus outbreak. Thus, processors killed an estimated 119,000 cattle last Friday, up from 115,000 cattle a week earlier. Increasing production is a downside risk for the live cattle price.<\/p>\n\n\n\n\n\n\n\n\n\n\n
Indicator<\/th>\nVALUE<\/th>\nSignal<\/th>\n<\/tr>\n<\/thead>\n
RSI<\/td>\n<\/td>\nNeutral<\/td>\n<\/tr>\n
MACD<\/td>\n<\/td>\nNeutral<\/td>\n<\/tr>\n
Donchian Channel<\/td>\n<\/td>\nNeutral<\/td>\n<\/tr>\n
MA(200)<\/td>\n<\/td>\nSell<\/td>\n<\/tr>\n
Fractals<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
Parabolic SAR<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Summary of technical analysis<\/h2>\n\n\n\n\n\n
Order<\/b><\/td>\nBuy<\/td>\n<\/tr>\n
Buy stop<\/b><\/td>\nAbove 98.78<\/td>\n<\/tr>\n
Stop loss<\/b><\/td>\nBelow 94.06<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Lower beef supply bullish for live cattle price US frozen beef supplies suffered a steep drop last month according to the US Department of Agriculture National Agricultural Statistics Service (NASS) monthly report released a couple of days ago. The total amount of beef in freezers was recorded at 415.221 million pounds, down 64.235 […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-172711","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=172711"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172711\/revisions"}],"predecessor-version":[{"id":172726,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172711\/revisions\/172726"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=172711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=172711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=172711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}