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 planking 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.
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Live cattle futures are trading $.25 to $1.00 higher at midday, led by the front two contracts. Wholesale beef prices are a little lower this morning, with USDA showing the Choice boxed beef average down 24 cents at $250.43 per cwt. The Select quote is down 34 cents at $246.62. Feedlots are asking $165-166 or more for live sales this week and $265 or higher for carcass based. A few bids have been reported at $162 this morning in the South and $259-260 in the North.