Looking To Sell Feeder Cattle

09 Mar in Blog, commodity trading, feeder cattle futures, futures trading, Lean hog futures, live cattle futures, livestock futures, Mike Seery, milk futures, seeryfutures

Feeder Cattle Futures--- Feeder cattle futures in the April contract are trading higher by 140 points at 124.20 still stuck in a tight 6 week consolidation as I'm looking at a possible short position if prices crack the 120.90 level while then placing the stop loss above the 10 day high which stands at 125.30 risking around $2,200 per contract plus slippage and commission as cattle is a high risk trade.

At the present time I'm recommending a short position in the hog market and many in the grain sector as I think the commodities look weak, but be patient and wait for the breakout to occur as the contract low stands below 110 as there is room to run in my opinion as the U.S dollar continues to put pressure on many of the agricultural sectors.

Feeder cattle prices are right at their 20 and 100 day moving average as that tells me a breakout is looming in my opinion so keep a close eye on this market as the livestock sector has been very resilient to the upside, but all of the other commodity markets are lower going so it will be tough to continue its bullish momentum in my opinion.TREND: MIXED –CHART STRUCTURE: EXCELLENT




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