Losing streak continues: the Livestock future down 0.52%, closes at $163.65, making it the 10th consecutive day of losses

Yesterday at a glance: Live Cattle ended yesterday at $163.65 per pound following from closing Thursday at $164.5. Overall, this represents a loss of 85 cents or 0.52%.

United States Core Retail Sales fell short of the -0.3% projections, with new data of -0.8%. Retail Sales in United States fell short of market expectations (-0.4%) with a reading of -1%, continuing the decline from the previous figure of -0.2%.

While price action maintains a negative bias, United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -307,600, while the previous figure was -321,500.

Live Cattle's lower Bollinger Band® is at $160.3, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, looking at the technical analysis landscape, it seems Live Cattle might start pointing upward in the short term.

The commodity has been trending positively for about 10 months. The Livestock future is now trading 2.19% below the significant high of $168.18 it set around 15 days ago.