Live Cattle Continues Bearish Trend

23 Aug in Blog, commodity trading, feeder cattle futures, futures trading, Lean hog futures, live cattle futures, livestock futures, Mike Seery, milk futures, seeryfutures

Live Cattle Futures--- Live cattle futures in the October contract are currently down 60 points at 107.12 and traded as low as 106.07 early in the trading session as this trend still remains bearish and if you are short a futures contract continue to place the stop loss above the 10 day high standing at 109.70 as an exit strategy.

Cattle prices have held support on multiple occasions around the 105 level & if that is breached I think we can head down to the 100 level rather quickly as the livestock sector still remains very bearish as hog prices have also hit fresh contract lows in today's trade.

Cattle prices are trading under their 20 and 100 day moving average telling you that the trend is to the downside as the fundamentals also remains bearish due to high production levels so stay short & place proper stop loss risking 2% of your account balance on any given trade. Volatility in cattle is relatively high which means prices are having large swings on a daily basis so make sure you place the proper amount of contracts as cattle prices can move 300 points on a daily basis.TREND: LOWER----CHART STRUCTURE: IMPROVING

 

 

 

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