June live cattle futures (LEM25) present a selling opportunity on more price weakness. 

See on the daily bar chart for June live cattle futures that prices have dropped sharply from the contract high scored in early April. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is in a bearish posture. Severe near-term technical damage has been inflicted recently to suggest a market top is in place. While the cattle futures market has been resilient the past few months, the latest selling pressure appears too strong for a solid price recovery and any move back close to the early April high. 

Fundamentally, consumer confidence has been shaken by the recent stock and financial market turmoil, which is likely to crimp demand for beef at the meat counter. Recent downbeat consumer confidence readings suggest such. Also, the important speculative traders in the live cattle futures market have been spooked by the keen risk-off trading atmosphere exhibited much of the time the past few weeks. That suggests the cattle market bulls will remain squeamish. 

A move in June live cattle futures below chart support at $195.00 would give the bears fresh power and it would also become a selling opportunity. The downside price objective would be $185.00, or below. Technical resistance, for which to place a protective buy stop just above, is located at $200.00. 

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): 

Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.