Feeder cattle had quite steep downtrend, however this chart on daily time frame seems very bullish, it´s typical P - profile (strong uptrend in 2017, then consolidation in 2018-2019). Support is very strong, but quite big, but price shouldn´t drop below 130.
COT is very bullish and there is big divergence at commodities spreads ( demand for FC is rising, but price goes down - that´s not usual and price should go up).
COT is very bullish and there is big divergence at commodities spreads ( demand for FC is rising, but price goes down - that´s not usual and price should go up).