What’s Up, What’s Down: Spotlight on Meats
Comments for October 17, 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
WATCH THE GAPS IN CATTLE AND FEEDER CATTLE
MEATS: 10/17/11: Higher for the live and feeder cattle along with lean hogs again. Although I have buy signals for the live and feeder cattle it should be noted that both have TWO GAPS below and, as I have stated many times before, the meats and grains, in my opinion, fill most of these gaps! Also the December cattle contract has been making higher highs and lows since the beginning of September while making its best high since July 13th. The November feeders rallied sharply off their lows to make their highest high and close since July 11th acting very strong overall. Sell signals could prove significant for the cattle and feeders with those gaps below so it’s still time to be patient. Also, the feeders have good support below 140. Hogs had a large range while making its best high and close since around July 11th pretty much breaking out of its last resistance area. BUY SIGNAL FOR LIVE AND FEEDER CATTLE ALONG WITH LEAN HOGS. CALL FOR DETAILS!
For more Grain market commentary, please visit my Livestock 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 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.