Losing streak continues: the Livestock future down 45 cents, closed at $164.35 adding to its five days of losses

A quick look at yesterday: the Livestock future withdraws 0.27% to close at $164.35 per pound yesterday.

United States Unemployment Rate fell short of the 3.4 projections, with new data of 3.6.

On the flip side, United States Non Farm Payrolls beat the 205,000 projections, with 311,000.

Amid the market gloom, United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 107,100, while the previous figure was 128,800.

Live Cattle's upper Bollinger Band® is at $166.14 which indicates a further downward move may follow.

Looking forward, Live Cattle is poised to extend its strong downtrend and continue declining.

The Livestock future's value drop coincided with the fact that Feeder Cattle descends 0.78% yesterday and closed at $199.15.

The commodity has been trending positively for about 9 months. Having soared to a high of $166.22 approximately 5 days ago, the Livestock future is now trading 0.86% lower.