After five days of declines, Live Cattle is up 17.5 cents today

After closing the previous trading day at $163.55, the Livestock future is up to $163.72 per pound, which makes for a move of 0.11%/17.5 cents today.

United States Consumer Price Index is next today at 12:30 UTC.

Meanwhile, United States Participation Rate (Feb) released yesterday at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.

The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Live Cattle's upper Bollinger Band® is at $166.25, this is a slight indication of a slowdown.

The Livestock future is likely to reverse course and start pointing downward in the short term.

Furthermore, the market is looking at United States Retail Sales projected to come out at -0.3% — worse than previous data of 3%; data will be released tomorrow at 12:30 UTC. United States Core Retail Sales expected to decline to -0.1% while its preceding data was 2.3%, data will be available tomorrow at 12:30 UTC. United States Producer Price Index projected to decline to 0.3% while previous data was 0.7%; data will be released tomorrow at 12:30 UTC.

The commodity has been trending positively for about 9 months. Having set a significant high of $166.22 8 days ago, CME Live Cattle is trading 1.61% lower.