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Cattle Prices Sharply Lower


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Live Cattle Futures---Live cattle futures in the August contract are sharply lower this Tuesday afternoon in Chicago down 190 points at 104.90 as I've been recommending a bearish position from around 106.30 level & if you took that trade continue to place to stop loss above the 10 day high standing at 108.47 as the chart structure will improve later this week.

In my opinion I believe prices will retest the May 31st contract low of 102.30 as feeder cattle prices are also lower in today's trade as corn continues it's bullish momentum as the whole grain market is higher across the board.

Cattle prices are still trading below their 20 and 100 day moving average as clearly the trend is to the downside as the volatility is high as we are having many 200 or 300 point up or down days so make sure you place the proper amount of contracts.

One of the main reasons why I recommended this trade is I thought the risk/reward was in your favor due to the high volatility as the original risk on this trade was around $900 which is low for the commodity.

TREND: ----LOWER

CHART STRUCTURE: IMPROVING

VOLATILITY: HIGH

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

Skype Address: 5da1f85979b7117b

TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

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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