Active fed cattle trading on Thursday was reported at $93 to $93.50 perhundredweight on a live basis compared with mostly $90 to $90.50 last week.

And the U.S. Department of Agriculture's evening boxed beef wire on Thursdayquoted choice and select cuts up $0.31-per hundredweight and $0.13,respectively.

Chicago Board of Trade corn's overnight weakness might further motivatebullish cattle traders, a broker said.

However, the broker said, potential profit taking by longs in pre-weekendposition-squaring fashion may limit potential gains or press some contracts innegative territory.

Also, this week's cash business was already factored into the August contractthat may be under liquidation pressure ahead of its Aug. 31 expiration, thebroker said.

No deliveries were posted by the exchange on Thursday against the Augusttrading month.

Some funds are expected to roll October-long positions into December inadvance of the Goldman roll period. The first of five days for the roll willofficially start on Sept. 10 and is connected with the Goldman Sachs CommodityIndex.

An agricultural research firm recommends buying December live cattle on Aug.25, which is Saturday, and selling the contract on Sept. 10. The firm'sseasonal recommendation for Aug. 25 also includes buying October and sellingApril on spreads, and reversing the spread on Sept. 14.

A broker said traders who follow the firm's advice appeared to have "gottenahead of the game" on Thursday. Meanwhile, he said, a few others might workthose positions on Friday or wait until Monday.

October live cattle's 96.54-cent and 20-day moving average is the first lineof technical support followed by the 96.42-cent 40-day moving average.

Brokers called feeder cattle mixed on residual buying and softelectronic-CBOT feedgrain contracts against potential profit taking and boardpremiums to CME's feeder cattle index.

Some August liquidation may occur before the contract's Aug. 30 expiration, abroker said.

Source: FXSTREET