Cattle Market Slows Down as Soybean Oil Surges Amid Supply Imbalances

The October'26 Feeder Cattle contract is currently trading around $315.00, but according to one analyst, it needs to break another $10-30 to establish a real bottom and allow for a potential rally.

The analyst believes that if the contract can pull back to $306.00, it will be a good time to start getting long in the option market, with a target of buying down to $286.00.

Meanwhile, the Soybean Oil market has been on a tear, and the analyst expects this trend to continue due to supply and demand imbalances that are expected to emerge in the fourth quarter.