What’s Up, What’s Down: Spotlight on Meats
Comments for November 28, 2011
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
TURNING BULLISH ON HOG FUTURES
MEATS: 11/28/11 Higher closes Friday for lean hogs while lower for live and feeder cattle. The February cattle chart looks a little different than the December chart with the cattle, overall, trading roughly between 11875 and 12625 since the middle of June. Granted, an eight dollar range can be a lot dollar wise but still doesn’t show much of a directions overall. Also, the February contract has been looking toppy over the last couple of months. A very important price area to hold is around120. The feeders had their worst close in one and a half weeks but still are in a strong long-term uptrend overall. Also, the feeders have been moving sideways to higher since the beginning of October. Hogs, on the other hand, have given me a BUY SIGNAL continuing to move higher over the last couple of weeks making higher highs for nine out of its last ten trading sessions. BUY SIGNALS FOR LIVE AND FEEDER CATTLE LONG WITH LEAN HOGS. CALL FOR DETAILS!
Follow all my livestock futures comments at my Meat Futures Update blog (https://meatfuturesupdate.com)
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 email@example.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.