February live cattle futures are presenting a buying opportunity as prices are trending higher, hitting a four-week high. The U.S. cattle herd is at its smallest in recent history, and consumer demand for beef is strong ahead of the holidays. The bullish elements, along with U.S. stock indexes near record highs and an anticipated interest rate cut, are expected to drive cattle futures prices higher. A move above chart resistance at $229.00 would signal more buying power, with an upside target of $250.00. Trading futures involves risk and volatility, so careful consideration is advised. Jim Wyckoff does not hold positions in securities mentioned.

Read more at Yahoo Finance: How Much Higher Can Cattle Prices Go from Here?