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Cattle Prices Higher 5th Day In A Row

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Live Cattle Futures---Cattle futures in the December contract is trading lower for the 4th consecutive session down another 82 points at 110.00 as I had been recommending 2 bullish positions with an average price around the 112 area getting stopped out around at the 110.50 area as prices have now hit a 3 week low.

Cattle prices have stalled out over the last month unable to cross the critical 114 level so it's time to sit on the sidelines and wait for another trend to develop as the chart structure still remains excellent due to the fact of the low volatility. At the current time I do not have any livestock recommendations as I still think commodities across the board will continue to move higher. I am advising ranchers to stay long the cattle market as I still think higher prices are ahead in the coming months, but as a trader you must have an exit strategy as prices hit a 3 week low as it is time to move on and evaluate.

Cattle prices are now trading below their 20 day but still above their 100 day moving average telling you that the trend is mixed so look at other markets that are beginning to trend as some of the agricultural commodities still look cheap especially when you take a longer-term view.




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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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