Livestock Weekly News

The Meat complex has been on a terror recently and if you have been following this report, you have been doing well. Live Cattle broke through resistance at 87.87 last week and continued higher to close the week near the high at 89.12. If you look at a monthly continuous chart you will see that this market has consolidated over the 1 ½ years and is within striking distance of 91.76 which is the last point of resistance until you reach 103.60. Buy dips.
In sympathy and also as a result of being the alternative commodities look for both Pork Bellies and Lean Hogs to trade higher this week. Matt Odom 10- 03-05

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