Hog Prices Limit Up 300 Points

Hog Prices Limit Up 300 Points
Hog Prices Limit Up 300 Points

Lean Hog Futures— Hog futures in the October contract is trading sharply higher this Thursday afternoon in Chicago limit up 300 points or 4.89% at 64.37 looking to advance these gains on tomorrow’s open as prices gaped open on the daily chart.

I’ve been recommending a bullish position from around the 50.75 level and if you took that trade continue to place the stop-loss under the 10 day low at 53.17 as an exit strategy, however the chart structure will improve in 3 trading days therefor the monetary risk will be reduced.

If you have been following any of my previous blogs you understand that I thought the 65 level could be touched which is just an eyelash away and now I think the contract high which was hit on March 13th at  66.92 could be in the cards in the coming days ahead as this market remains strong as fundamentally &t technically speaking prices look to move even higher.

At the current time this is my only livestock recommendation as the cattle market remains very choppy so stay long as the volatility will continue to expand to the upside. 

TREND: HIGHER

CHART STRUCTURE: POOR

VOLATILITY: HIGH

 

 

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com 

 

TWITTER—@seeryfutures 

 

 Email: mseery@seeryfutures.com

If you’re looking to open a Trading Account click on this link www.admis.com 

 

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.