Live Cattle Futures Target $134

I don't write about cattle often, but it looks like cattle are poised to make a run at the previous high of $134.  This target is based off the measuring height of the cup and handle pattern which is about $15.  From $119, another $15 would take price to $134.....the previous contract high.  At that point, you should be prepared to protect price with some options or LRP.  I expect this will be around the end of the year when price reaches that level.......maybe January.