I'm expecting a bounce to say the cattle low is in place. The thought of "expecting" can be deceiving and even dangerous but it's hard to pull the trigger if the thought isn't there. I'm using Aug to start my herd of cattle, gives me more time for declining numbers and increased demand to play out for more reward. I'm being patient for my 115.80 target to give it 1 more low in the 115.00 area to start my herd. When the buy signal is triggered I will start adding to my herd. I'm still arguing with myself whether this week is the bottom or I get a shot of anxiety with the low coming in next week with a $2 dump.

The potential correction support target at the 112 area will go on the menu if Aug breaks 115.00. June has the same projection target at 112 if it closes below 114. It is possible for June and Aug to kiss the 112 target area at the same time. In a down market they have at times traded even money. I would be surprised by a drop that low but it seems like the surprises are in surplus this year. The corn market is full of crazy stupid surprises that just seem to better each new surprise.