How Much Higher Will Cattle Prices Go?

Group 1 - February live cattle futures are showing a buying opportunity due to recent price strength, with prices reaching a nearly two-month high and trending upward [1] - The USDA cattle-on-feed report indicates that cattle in U.S. feedlots are at historic low levels, while consumer demand for beef remains solid, contributing to a bullish market [2] - A breakout above the chart resistance at $232.325 for February live cattle futures would strengthen bullish sentiment, with an upside price objective of $250.00 or higher, and technical support at $224.00 [3]