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Back up we go.....both Sept and Dec contracts equally strong today. Also, the severe backwardation does not appear to be correcting itself very much.

Wow - nice chart....what a rock 'n roll day it was in cattle. The market is really "testing" the strength at these high prices. Re: your options hedges. I understand they protect you, but to me, they appear to really adversely impact the profit on the actual futures trade. No ?

Yep, break-outs can be wickedly fast and violent. Still, one popular strategy is to fade the breakout AFTER it occurs....thus looking for an "FBO" or False Break Out. 27k contracts traded today...wow ! Everyone is "in".

December is the strongest month right now......it's not too far from all-time highs. Not sure if this is the time to sell.....we could get a "blow-off" top in here as that last dip was bought pretty intensely.

Yes, this is making a move above $1.70 unlikely IMHO.

What report was issued today to cause a 2 penny drop ? Here is John Otte's fine analysis of the market....which appears to be bullish: http://farmfutures.com/story-livestock-call-john-otte-22-97489

Well, whatever happened with that report affected the back months....they're weak. Now we have a steeper backwardation effect.

And don't forget the rule of "even numbers" i.e. 150, 160, 170, etc. Dec contract hit 169.25 (close enough to 170) and then backed-off 4 pennies ! (FBO=Failed Break Out). This is really gonna get wild....with the super low supplies coupled with a weaker economy. Assessing the demand at these...

Gold now firmly above $1200....and the Fed PUTS have once again become cheap. Copper will remain in a trading range until the inevitable: hyperinflation or deflation.

That situation sounds unsustainable.....farmers buying cows. That said, Dec hit a new contract high today @ 168.25

Exactly....lots of cross-currents right now. With a weakening economy, the demand for beef must come down. Question is : when will this situation get realized in the futures market ?

Cattle running north today.....Dec contract high at 167.6 !! Can this guy push thru 170 ?

Surf - I know, I know....I remember how wild the copper market was back then....with huge swings over a couple of months. Now....it's pretty much dead as the big move has been made. The only possibility for changing that situation is expanded central bank money creation. I mean if that puts us...

Copper, ONCE AGAIN, appears to have held the $3.00 level. Unbelievable...and this occurred in the context of a soaring US Dollar. I would not be shorting this guy right now.

Looks like new highs for Dec, correct ? Just got back from the grocery....some steaks at $16/lb !!!

Wow, those calls were a long-shot, no ? Equity action is pointing to slowing economy....lower demand for everything....including expensive steak.

Hey guys - this thread just past the 2 year anniversary !! Remember when Copper was over $4 ?

We are only 2 pennies away from the June lows.....the drama, the drama. Suddenly this guy has turned from boring to interesting.

Whoever wrote 5-6 weeks ago about the "epic short" at 160 had another chance !

Nice call Handle....back down we go. Wow, it's getting volatile....natch....too many variables right now. My call: Fed tightening will be the catalyst for below 3.00 movement. When oh when however ? I think we are at least 6 months away from that...Europe has got to revive first.