After closing the previous trading day at $167.68, Live Cattle is up to $172.22 per pound, which makes for a move of 2.71%/$4.55 today.

New United States Crude Oil Inventories improved upon the previous -12.46 million figure while also exceeding analyst expectations with a reading of 4.49 million.

Uptick comes while some more positive signs for Live Cattle are out as United States Crude Oil Inventories beat analyst expectations of -1.10 million and the previous reading of -12.46 million with new data of 4.49 million. Data for United States Initial Jobless Claims released today at 12:30 UTC is better than expected with 232,000, but worse than previous figure of 230,000.

At the same time, United States ISM Manufacturing PMI (May) came out at 46.9, while a consensus of analysts was expecting 47.

Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Momentum evaluation shows that the RSI is a momentum oscillator that measures changing price movements on a scale of 0-100. In CME Live Cattle's case, the index has risen above 70, signalling that the asset is overbought. Asset volatility analysis shows that Live Cattle's upper Bollinger Band® is at $170.43, this is a slight indication of a slowdown.

Notwithstanding CME Live Cattle's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Rallies can also be seen in other Meats, Feeder Cattle increases 0.78% to trade around $241.05.

Furthermore, the market is looking at United States Non Farm Payrolls expected to decline to 180,000 while its preceding data was 253,000, data will be available tomorrow at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Average Hourly Earnings will be released, with an expected decline to 0.4% from the preceding figure of 0.5%. Tomorrow at 12:30 UTC data for United States Unemployment Rate will be released, with an expected decline to 3.5 from the preceding figure of 3.4.

Trading mostly sideways for a year. CME Live Cattle has fallen back around 0.93% over the past a day, from a notable high of $169.25.