What’s Up, What’s Down: Spotlight on Meats
comments for July 18, 2010
Looking ahead to Monday by reflecting back on Friday’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.
SPOTLIGHT ON MEAT FUTURES
MEATS: 7/18/11 Mixed closes Friday for live cattle along with lean hogs while lower for the feeder cattle. I plan on taking advantage of cattle’s one gap and possibly the feeders’ two gaps below the market. CALL FOR DETAILS! Cattle is now forming a potential top with the 110 area basis the August contract important to watch in my opinion.The feeders settled lower for the fifth session in a row with its worst low and close since around June 20th basis the August contract most likely due to the sharp rise in corn since its crop production and supply/demand reports. Support goes down to the 13250 basis the Aug. contract The August hog contract has been consoliding over the last week in very choppy action strong resistance over 100 and 9750 a critical area in the short-term to hold. BUY SIGNALS FOR THE LIVE AND FEEDER CATTLE ALONG WITH LEAN HOGS. CALL FOR DETAILS!
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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 firstname.lastname@example.org 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.