In my opinion, the line in the sand is definitive.  Bulls are more bullish and bears are more bearish.

Of concern today is a story from Zero Hedge about frozen French fry producer Lamb Weston.

A softer tone developed today.  The obvious continues to be stated.  We know we are short of cattle.  We know the commodity funds are long at a historical level with prices at historical levels.

Futures traders are believed to have tightened the screws on cattle feeders today.

Today's comments will be via webinar to update the October 30, where I was anticipating a head and shoulders pattern to form.

As prices move higher, it will ration the number of producers that can assume the greater financial risks, as well as continue to promote alternative factors of beef production.  That is what rationing...

Open interest increased significantly at the known top of the market. This means that every new long position in futures owns cattle at near contract highs, and not too far from all time cash high.

Input costs, and the price of money, are on the rise.

There is little to hash out.  The industry is changing and higher prices are expected to quicken the change.  Higher prices will cure high prices.  What we are testing at the moment is how high that...

Although the seasonal tendency for October live cattle is firm going into expiration, it does not always suggest a new contract high.