Cattle Futures - Live Cattle Mixed

CHICAGO - Analysts and brokers called for a mixed Chicago Mercantile Exchange live cattle open Tuesday with an undertone of firmness.
calendar icon 21 November 2007
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Potential covering by shorts before the Thanksgiving holiday and continued brisk wholesale beef movement might help the market overtake possible spillover weakness, a broker said.

Also, cash optimism because of lighter showlists, and December and February's mildly oversold Relative Strength Index conditions, are positive market factors, said the broker.

What's more, the broker said a possible equity and CME hog market rebound after Monday's debacle in both sectors might provide a psychological lift for live cattle traders.

Otherwise, brokers and analysts look for a quiet trading session as the pit population thins before the holiday.

Source: FXstreet
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