Cattle prices in Brazil. Time for a REVERSAL!!!!
With the high demand from China and some plants closing down due to COVID, the cattle prices in Brazil have just gone up since April. Today was the first real candle but it stopped at he 21 exp mov average.
The country has started to reopen the plants, COVId infection likely reached its plateau and we can expect the imbalance of demand supply to go to normality.
It is totally achievable to see prices of 210 or 200 very soon. Cattle prices in the US will bbe highly dependable of USDBRL correlation.
The country has started to reopen the plants, COVId infection likely reached its plateau and we can expect the imbalance of demand supply to go to normality.
It is totally achievable to see prices of 210 or 200 very soon. Cattle prices in the US will bbe highly dependable of USDBRL correlation.