PA is in clean downward and is nicely oscillating between the upper and lower areas. PA is about to cross the Ichi cloud which could be the start of a short trade. However the lagging span still has some layers to go through before being free. This could occur within the blue ellipse area.
Note the lower support within the that could prevent the PA from reaching the lower prong. This is where the TP can take place.
Some fundamentals: http://www.agweb.com/article/market-highlights-cattle-prices-drop-university-news-release/
Some news that could maintain the price flat during the cloud traversal: http://www.agweb.com/article/blizzard-kills-an-estimated-12000-beef-cattle-another-40000-missing-naa-wyatt-bechtel/