What’s Up, What’s Down: Spotlight on the Livestock Sector
Comments for Monday, July 12, 2010
Looking Ahead to Today by Reflecting Back at Friday’s Price Action
MEATS
Lower closes last Friday for live and feeder cattle along with lean hogs but no real changes technically. Cattle is still close but hasn’t given me a buy signal, at least yet, while the feeders look to be gradually heading towards the 11500 area basis the August contract where there is strong resistance up to 117500. Hogs settled lower also continuing their downward momentum overall. BUY SIGNAL FOR FEEDER CATTLE. SELL SIGNALS FOR LIVE 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 ralexander@zaner.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.
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