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Cattle Prices Hit A 5 Month High This Week


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Live Cattle Futures---Cattle futures in the October contract is currently trading at 107.80 after settling last Friday in Chicago at 105.10 as I've been recommending a bullish position from around the 106.50 level and if you took that trade continue to place the stop loss under the 2 week low at the 105.57 level.

Originally the recommendation was in the August contract from around the 99.80 level as we rolled out a couple of days back as the bullish trend continues as prices have now hit a 5 week high. If you take a look at the weekly chart prices are trading above their 20 & 100 day moving average as I think we could test the 115 level in the coming weeks ahead as historically speaking prices look cheap.

The chart structure will not improve for another 4 trading sessions so you will have to accept the monetary risk as volatility still remains relatively low and I don't think that situation will remain for much longer so play this to the upside as I will be looking at adding more contracts once the risk becomes more in your favor.

TREND: HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY: AVERAGE--LOW

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

TWITTER---@seeryfutures

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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