What’s Up, What’s Down: Spotlight on Meats
Comments for December 15, 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
SEE HOW TOPPY THE MEATS COMPLEX LOOKS
MEATS: 12/15/11 Higher for live cattle but lower for the feeder cattle and lean hogs. The charts below show, in my opinion, how toppy the meat complex looks. Cattle has little resistance up to the 12250 area while the feeders also look very weak overall with little support down to the 140 area. There is very good support for the January contract below 140 and heavy resistance above 145 which could help define the feeders trading range for a while. Also, they did rally today to end up near their session’s high. Hogs are near a very critical 8500 area after making their worst close since September 6th and looking like they’re in a BEAR PENNANT. SIGNALS FOR LIVE AND FEEDER CATTLE ALONG WITH 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.