Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Serving: United States
Swift's Market Comments
Nearby live cattle chart Swift Trading Company
February live cattle chart pattern hasn't proven whether its going to move farther up or slide back down.

Cattle prices battling for direction

Feeders and live cattle trading between chart targets that would suggest moves coming either up or down.

Bears weren't through showing off this morning as traders were able to exceed the $114.30 February low made earlier this week.

Bulls may not be so forgiving, though, as from the low of the day we've already seen a new high for the day posted.

Again, the price rise reflects the subtle changes that most everyone now recognizes. What is needed now is something else to propel prices higher. This may be weather or an abrupt change from the inventory report at the end of the month.

Until then, further sideways trading between the $118.50 high and current $113.97 low February is anticipated. A close above $115.50 February will begin to lead me to anticipate a reversal to at least challenge the $118.50 high.

Nothing is changing in the feeder market so far. A trade above $124.67 March would go a long way toward suggesting the current decline is complete.

 

An investment in futures contracts is speculative, involves a high degree of risk and is suitable only for persons who can assume the risk of loss in excess of their margin deposits. You should carefully consider whether futures trading is appropriate for you in light of your investment experience, trading objectives, financial resources and other relevant circumstances. Past performance is not necessarily indicative of future results.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish