What’s Up, What’s Down: Spotlight on Meats
Comments for August 19, 2011
Looking ahead to Friday by reflecting back on Thursday’s trading
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
USDA’S MONTHLY CATTLE ON FEED REPORT RELEASED THIS AFTERNOON
FUTURES AND OPTIONS TRADING IS SPECULATIVE IN NATURE AND INVOLVES SUBSTANTIAL RISK OF LOSS. FUTURES AND OPTIONS TRADING IS NOT SUITABLE FOR ALL INVESTORS.
MEATS: 8/19/11 Lower to sharply lower closes yesterday for live cattle and feeder cattle along with lean hogs. The cattle and feeders settled down sharply with the former at the lower end of a critical support area in my opinion ahead of the cattle on feed report. Also, the cattle remain neutral for me since the October contract has been in a trading range roughly between 11500 and 12000 since around June 20th. The feeders also closed sharply lower making its lowest close since June 16th with 11420(Oct.) the next important price to watch. Hogs closed lower making its worst close since July 5th also at the lower end of an important support area. SELL SIGNALS FOR FEEDER CATTLE ALONG WITH LEAN HOGS. CALL FOR DETAILS!
“A good plan is like a roadmap; it shows the final destination and usually the best way to get there” (H. Stanley Judd). Traders need a trading plan too. Download my TRADING PLAN TEMPLATE by clicking this link or copying and pasting it into your browser:
https://www.zaner.com/3.0/ljstradingplantemplate.asp
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. Email Rick at ralexander@zaner.com or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.