Live Cattle - Top ?

[Money Trust]

If /LE is to rise, I believe it'll touch that 158 area first.

 

[thefuturestrader]

Feeders limit down again, back month live cattle coming off fairly hard as well.

 

[syswizard]

April / June spread has widened to nearly 8 cents !!!

 

[thefuturestrader]

Yeah, that spread was $11.25 in late October. Obviously, the market sees that time as when the tight live cattle issue will work itself out.

 

[Handle123]

I am still selling new highs and hedging, eventually will find highs.

Target of 160 was made giving 12.00 points, have breakeven stop of 171.60 which includes loss on options, lost $300 on long Dec option, short option expired worthless for gain $50, did rollover into Feb futures, so hopefully Live Cattle, Feeders and Live Hogs continual to go down and will do roleovers. I won't adjust stop unless price comes down to 121 and will require divergence patterns on weeklies. Will take add-on signals if they develop.

 

[syswizard]

Sky high prices have results in the largest ramp up of new breeders in the history of cattle cycles. It took a long time to happen but now the evidence is everywhere to be seen and realized in the near future.

http://www.agcenter.com/newcattlereport.aspx

Limit down today boys.....this was predictable, no ?

 

[thefuturestrader]

Front month live cattle were hanging in there for a while with feeders down limit the past couple of days. Limit down across the board today though. Producers without any protection to the downside are hurting right now.

 

[Handle123]

We all know the reasons why are unimportant as they usually come after the price move. And when all else fails, "Profit Taking". It winter time and people eat more carbs than meat.

 

[thefuturestrader]

This cattle party appears to be over for the near term.

 

[Money Trust]

This is where I close my short position, take the money and run.