Futures Traders: Get FREE daily videos covering today's hottest market
Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planning trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
Enter your e-mail below to view the latest Daily Alert and receive a complimentary PDF on Cycle Trading techniques to find the right conditions for entering the market.
Live cattle futures were up more than a dollar in the front three contracts. The later contracts were also higher, but only by 20 to 82 cents. Feeders ended the day with gains, but most contracts settled well below their intraday highs. The CME feeder cattle index for 5/27 was $142.02, and the 5/30 average was $143.76. Cash cattle trade on Friday recorded dressed sales from $195 to $205, and live sales from $122 to $126. There were not enough sales on Monday to determine market trend. Choice boxed beef prices were 73 cents lower in the afternoon report. Select boxes averaged 20 cents lower. WTD estimated FI slaughter is 115,000 head, with 3,000 head killed during the Monday holiday. That is 5K head shy of the WTD total from a week ago.
Jun 16 Cattle settled at $121.100, up $1.400,
Aug 16 Cattle settled at $118.050, up $1.625,
Oct 16 Cattle settled at $117.325, up $1.500,
Aug 16 Feeder Cattle settled at $147.100, up $0.400
Sep 16 Feeder Cattle settled at $145.325, up $0.525
Oct 16 Feeder Cattle settled at $143.500, up $0.275