longterm chart http://futures.tradingcharts.com/chart/LU/M weekly chart http://futures.tradingcharts.com/chart/LU/W daily chart http://futures.tradingcharts.com/chart/LU/37 copper chart http://futures.tradingcharts.com/chart/CP/27 with the housing industry as backdrop, copper and lumber moved up together with the start of the month. Yet the debacle in subprime lending seems to be dominating shortterm sentiment, both copper and lumber should fall back. live cattle prices look to be breaking out ...grains are in a bull market. To maintain cattle, you need to feed them grains, if you look at cattle and grain to meat conversion, the cattle represent converted grain which needs to be bid up, otherwise in essence your buying grain cheaply at current prices in cattle. Its arbitrage of both markets. http://futures.tradingcharts.com/chart/LC/27 http://futures.tradingcharts.com/chart/SB/W soybeans broke out to the upside with start of the year, yet cattle is slowly working to do the same.