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I Remain Bearish Cattle Prices


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Live Cattle Futures---Live cattle futures in the August contract settled last Friday in Chicago at 103.30 while currently trading at 104.85 up about 150 points for the trading week bouncing off major support.

I have been recommending a bearish position from around the 106.30 level and if you took that trade place the stop loss above the 10 day high standing at 107.17, however the chart structure will not improve for another 8 trading sessions so the stop loss will remain the same.

Cattle prices are still trading under their 20 & 100 day moving average as the trend is lower coupled with the fact that the downtrend line remains intact so continue to play this to the downside while placing the proper stop loss.

In my opinion for the bearish momentum to continue we have to break the May 31st contract low of 102.30 as volatility is high at the present time and it will remain that way throughout the summer months.

Corn prices are up another $0.09 today hitting a 5 year high as that is negative towards feeder cattle and I think corn prices are going to break the $5 level soon and that could push cattle prices under 100 so stay short.

TREND: ----LOWER

CHART STRUCTURE: EXCELLENT

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

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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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