What’s Up, What’s Down: Bullish on Cattle Futures
Comments for Tuesday, February 10, 2009
Looking Ahead to Today By Reflecting back at Monday’s price action
MEATS:
Higher close yesterday for live and feeder cattle, unchanged to higher for lean hogs while lower for pork bellies. The live and feeder cattle both gave me buy signals after today’s action while lean hogs made a new low close. Bellies made a new contract low and close. I remain bullish on Cattle and would like to share my specific buy signals.
Go to markethead.com to see the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website.
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. If you would like a free booklet explaining the charts mentioned above, email Rick at ralexander@zaner.com.