Morning Ag Markets – Pete Loewen
Date: May 22, 2018 Morning Ag Markets Pete Loewen Big sigh of relief for the cattle complex yesterday as futures shot actively higher and escaped the potential in the short term at making new contract lows. Last week, October live futures dipped into life of contract lows, but for the 2018 live and feeder contracts, that was it for new low territory. Everything else managed to hold that massive area of support. Technical analysis based on that move towards the April contract lows looks well supported now. It’s not that new low ground isn’t possible, but for the time being at least, the path of least resistance appears to be up. Oddly enough, that up move, if it keeps marching higher is going to be…