are getting very close to my profit taking target and Monday or Tuesday is a scheduled cycle rotation low for my calculations. The probable negative COF report is the wild card. The placement will look extremely high compared to last year but last years numbers were way out of whack due to covid. We could have "Sell the Rumor/Buy the Fact" playing out even with a negative report. I have buy orders on Aug cattle working @ 115.80, I will be disappointed if Aug fails to run to 132.00.

This correction is a classic 180 count Flush that the Funds consistently set up by pushing the market higher. After 5 months they find themselves overloaded with longs, so they trip the Flush Handle to lighten the load by forcing a 7-10 dollar correction with the intent to start reloading the longs for another 6 month climb to higher targets. I would not be surprised to see cattle explode higher in similar fashion to the hogs. The one thing lacking is a Driver to light the Fuse.