Video Alert and PDF: Learn from a Market Veteran (Free!)
Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
See the markets Jim is watching each day
Get a free companion PDF that explains his "Cycle Trading" method
Learn how to identify chart formations that indicate potential breaking commodity markets
Watch Jim analyze actual charts in his videos, pointing out formations and signals
All you need to do to watch today's video and get the PDF is confirm here:
Live cattle futures added $1.75 to $2.125 on top of sharp gains posted on Thursday. Feeders were also into the green with gains of 12.5 cents in the Nov contract, and $1.25 for January futures. The CME feeder cattle index for 10/20 was up 69 cents at $120.66. Boxed beef prices were mixed in the afternoon report. The choice average was $1.89 higher, and the select price was down $1.01. From Friday to Friday, the choice price was $2.08 lower (-1.1%), and select was $5.31 lower (-3.1%). Cash cattle trade was mostly inactive on light demand without enough sales for an adequate market test. The average price reported was $97.69 for all grades of steers. Reported dressed sales averaged $154.40 and dried up quickly as the Board rally unfolded. Weekly FI slaughter is 602,000 head including Saturday estimates, up 1,000 head from a week ago and 48,000 head more than a year ago. USDA's monthly Cattle on Feed report was released after the close on Friday. COF on October 1 were 100.37% of a year ago. Placements were 98.15%, and Marketings were 105.48% vs. year ago. The Cold Storage report showed frozen beef stocks up 9.26% month/month, and up 4.49% from last October.
Oct 16 Cattle settled at $101.150, up $2.125,
Dec 16 Cattle settled at $101.875, up $1.750,
Feb 17 Cattle settled at $102.800, up $1.550,
Oct 16 Feeder Cattle settled at $121.875, up $0.125
Nov 16 Feeder Cattle settled at $119.700, up $0.850
Jan 17 Feeder Cattle settled at $115.500, up $1.250