What’s Up, What’s Down: Higher Meat Futures
Comments for Monday, March 16, 2009
Looking Ahead to Today By Reflecting back at Friday’s price action
MEATS:
Higher closes again for live cattle and feeder cattle along with lean hogs and pork bellies. Live and feeder cattle have been making lower lows and lower highs overall and are still in downtrends. Hogs and bellies settled higher again with hogs now giving me a buy signal. Bellies continued moving higher after giving me a buy signal on Friday. I remain bullish on hogs and bellies.
See the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website. For my complete coverage, visit my commentary page at www.markethead.com.
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.