After 12 days of going down, CME Live Cattle is flat today, hovering around $163.68

The Livestock future trades at $163.68 per pound, after ending yesterday at $163.6.

CME Live Cattle is currently trading at $163.68 following the release of Philadelphia Fed Manufacturing Index (Apr) data from the United States.

CME Live Cattle's state is reflected by market data as following a previous reading of 597,000, Crude Oil Inventories in United States released yesterday at 14:30 UTC fell short of the -1 million figure expected by analysts with an actual reading of -4.58 million. United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909. United States Cushing Crude Oil Inventories came out at -1 million, while a consensus of analysts was expecting 622,000.

Live Cattle's upper Bollinger Band® is at $168 and the lower is $160.3.

Despite muted price action in Live Cattle, chart analysis indicates it is positioned for a bullish run in the short term.

Moreover, United States Existing Home Sales (Mar) is scheduled for today at 14:00 UTC.

The commodity has been trending positively for about 10 months. 20 days ago Live Cattle reached a significant high of $168.18 but has consequently lost 2.72% since then.