05/24/2017 – live cattle

June live cattle:

1. In last Thursdays (May 18) Williams edge live meeting it was noted while not an outright trade, June live cattle was likely to advance from the then current price of $122.85 and test/attempt $125.50.

2. Subsequently, June live cattle advanced and on Monday, May 22 attempted the $125.50 upside target (swing high, $125.12). The failure to complete the target was an early sign of weakness which was later confirmed with the current decline. Will message any further entry or indication in June live cattle.

David Williams