What’s Up, What’s Down: Spotlight on Meats
Comments for June 17, 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.
STRONG CLOSES YESTERDAY FOR THE LIVESTOCK COMPLEX
MEAT: 6/17/11 (USDA monthly Cattle on Feed Report released this afternon) Higher to sharply higher closes yesterday for live and feeder cattle along with lean hogs. The cattle and feeders closed up their respective 300 point limits giving me a BUY SIGNAL for the former. Both made new recent highs and closes along with cattle filling its gap. Hogs didn’t settle sharply higher but it still was their best high and close since the beginning of May. The feeders have little resistance up to the 13250 area basis the August contract. Hogs also have little resistance up to the 100 area. BUY 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 substatial 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.