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Where Are Cattle Prices Going ?


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Live Cattle Futures---Cattle futures in the December contract are unchanged at 116.80 this Tuesday afternoon in Chicago as I am not involved in this market as I was looking at a possible bullish position but this market remains choppy as I will sit on the sidelines & wait for better chart structure to develop.

If you are short a futures contract my recommendation would be to place your stop loss or exit strategy at about the 119.17 level and if your long a futures contract I would place my stop loss below 114.65 as this market remains choppy despite the fact that we are right near a 10 week high.

Cattle prices are still trading above their 20 and 100 day moving average telling you that the shorter-term trend is to the upside as major major resistance is between 118/119 as we need some fresh fundamental news to push prices in either direction in my opinion as the agricultural sector continues to be stagnant over the last several weeks across the board.

Volatility in cattle is relatively low at the present time as hog prices also rallied over the last several weeks helping support cattle, however for the true breakout to occur prices need to bust 119.17 in my opinion for the bullish momentum to accelerate.TREND: HIGHER---CHART STRUCTURE: IMPROVING

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

If youre 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.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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