Cattle Prices At 12 Week Highs

02 Apr in Blog, commodity consulting, commodity trading, feeder cattle futures, futures broker, Lean hog futures, live cattle futures, Michael Seery, option broker, Seery Futures.com

Cattle Futures--- Cattle futures in the June contract settled last Friday at 152.97 while currently up 100 points at 153.25 up slightly for the trading week as I’m still highly recommending producers to look at the October 144/146 put options to try to protect your livelihood as I still think supply will come onto this market in next six months.

Cattle futures are trading above their 20 and 100 day moving average still right near a 12 week high as I’m sitting on the sidelines as a speculator but advising clients or producers to be hedging as I think the 1000 point rally might be a little long in the tooth in my opinion as the commodity markets in general are discombobulated towards cattle prices and eventually the two will have to come together in my opinion.

Cattle prices have gone sideways for the last 9 days as volatility has to come to a crawl but that won’t last for long as prices will break out of this tight trading range soon in my opinion; however I’m still personally sitting on the sidelines. TREND: HIGHER–CHART STRUCTURE: POOR

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