| 
June 13, 2023
Live Cattle is down to $172.95 per pound, after ending yesterday at $173.2. Overall, a 0.14% loss or 25 cents today.
United States Core Consumer Prices is next today at 12:30 UTC.
Meanwhile, United States Federal Budget Balance (May) released yesterday at 18:00 UTC with a figure of -240 billion, while the previous figure was 176 billion. United States 10-Year Note Auction released yesterday at 17:00 UTC with a figure of 3.791, while the previous figure was 3.448. United States 3-Year Note Auction released yesterday at 15:30 UTC with a figure of 4.202, while the previous figure was 3.695.
Japanese candlestick formations show when "Bullish Engulfing” is detected at the bottom of a bearish trend, it is typically indicative of a trend reversal.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 12:30 UTC data for United States Producer Price Index will be released, with an expected decline to -0.1% from the preceding figure of 0.2%.
Moreover, United States Crude Oil Inventories is projected to outperform its last figure with 1.48 million. It previously stood at -451,000; data will be released tomorrow at 14:30 UTC.
Furthermore, United States Consumer Price Index figure is projected at 0.2%. It previously stood at 0.4%; data will be released today at 12:30 UTC.
The commodity has been trending positively for about a year. Live Cattle is now trading 1.38% below the significant high of $175.62 it set around 7 days ago.
