How Much Higher Can Cattle Prices Go from Here?

Core Viewpoint - February live cattle futures are presenting a buying opportunity due to recent price strength and bullish technical indicators [1][2]. Group 1: Market Trends - February live cattle futures prices are trending higher and have reached a four-week high [1]. - The U.S. cattle herd is currently the smallest in recent history, while consumer demand for beef remains strong, especially with the holiday season approaching [2]. - U.S. stock indexes are near record highs, and an interest rate cut from the Federal Reserve is expected, which could further support cattle futures prices [2]. Group 2: Technical Analysis - A breakout above the resistance level of $229.00 in February live cattle futures would strengthen bullish sentiment and create a buying opportunity [3]. - The upside price objective for cattle futures is projected to be $250.00 or higher, with technical support identified at $220.00 for protective sell stops [3].