What’s Up, What’s Down: Spotlight on Meats
Comments for November 17, 2011
Looking ahead to Thursday by reflecting back on Wednesday’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.
CATTLE MARKET MAKING NEW HIGHS
MEATS: 11/17/11 Higher closes yesterday for live and feeder cattle while lower for lean hogs again. The cattle followed through higher after Monday’s sharply higher closer after holding an important support area. Looking at the chart below you can see the December cattle contract making higher highs and lows since the beginning of September. The feeders made a new CONTRACT HIGH AND CLOSE continuing its amazing climb higher. I sure would be nervous buying feeders at these price levels but ‘THE TIMES ARE A CHANGING’. A little Bob Dylan for you young folks! . Hogs settled lower again continuing to look weak overall while sliding since the middle of October. BUY SIGNALS FOR THE LIVE AND FEEDER CATTLE. SELL SIGNAL FOR LEAN HOGS. CALL FOR DETAILS!
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.